Houston, Texas-based Occidental Petroleum Corporation (OXY) is an integrated oil and gas company. It engages in the acquisition, exploration, and development of oil and gas properties. With a market cap of $43.8 billion, Occidental Petroleum’s operations span the United States, the Middle East, and North Africa.
The oil & gas giant has significantly underperformed the broader market over the past year. OXY stock has plummeted 18.7% over the past 52 weeks and 6.2% on a YTD basis, compared to the S&P 500 Index’s ($SPX) 20.9% surge over the past year and 1.9% gains in 2025.
Narrowing the focus, the company has also underperformed the First Trust Nasdaq Oil & Gas ETF’s (FTXN) 5.5% gains over the past 52 weeks and 2.3% returns on a YTD basis.
Occidental Petroleum’s stock prices rose 1.7% in the trading session after the release of its mixed Q3 results on Nov. 12. While the company’s topline declined 3.3% year-over-year to approximately $7.2 billion which missed the Street’s expectations, its adjusted EPS of $1.00 surpassed the analysts’ consensus estimates by a notable 25%. However, its net income of $964 million for the quarter was still down 16.6% compared to the year-ago quarter.
Occidental Petroleum is set to announce its fiscal 2024 results later this month, analysts expect the company to report a 9.7% year-over-year drop in earnings to $3.34 per share. However, OXY has a robust earnings surprise history. It has surpassed or matched the Street’s bottom-line expectations in each of the past four quarters.
Among the 25 analysts covering the OXY stock, the consensus rating is a “Hold.” That’s based on six “Strong Buy,” one “Moderate Buy,” 16 “Hold,” and two “Strong Sell” ratings.
This configuration is slightly bearish compared to a month ago when OXY had a consensus “Moderate Buy” rating and only one analyst gave a “Strong Sell” recommendation.
On Jan. 13, Truist analyst Neal Dingmann reiterated a “Hold” rating while raising the price target to $58.
OXY’s mean price target of $60.16 represents a 29.7% premium to current price levels, while its street-high target of $81 indicates a staggering 74.7% upside potential.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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