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.
