Goldman Sachs Raises OXY Price Target to $76
Key Points
- Goldman Sachs increased its price target for Occidental Petroleum to $76, up from $69, signaling confidence in the stock's growth potential.
- Goldman Sachs's $76 price target implies 21.16% upside from Occidental Petroleum Corporation's ($OXY) current $62.73 share price.
- As of October 27, 2026, Occidental Petroleum shares recently traded around $62.93, about 10.8% below the mean analyst target.
- The company reported trailing twelve-month revenue of approximately $23.93 billion, with a net margin of 30.3%.
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Goldman Sachs raised its price target for Occidental Petroleum Corporation (OXY) to $76 on October 27, 2026, up from a previous target of $69. The firm maintained its Buy rating on the stock, indicating a positive outlook for its performance. The update comes as the shares recently traded around $62.93, which is about 10.8% below the mean analyst target of $70.54.
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Occidental Petroleum Corporation
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Other Institutional Activity in Occidental Petroleum
Several other institutional investors have also adjusted their positions in Occidental Petroleum. AQR Capital Management, LLC grew its holdings by 2,754,298 shares, ending with 11,473,188 shares worth about $721.7 million. Meanwhile, Cooke & Bieler reduced its stake by 455,590 shares, bringing its total to 1,764,179 shares valued at approximately $97.6 million. Dodge & Cox Inc. trimmed its position by 1,318,689 shares, resulting in 72,764,944 shares worth about $4.58 billion.
Occidental Petroleum Corporation Stock Down 2.3%
Occidental Petroleum shares closed at $62.90 on October 27, 2026, and have been trading above their 50-day moving average by about 5%. However, they are about 6.7% below their 52-week high of $67.45. This price movement suggests that the stock is currently positioned well but still has room to grow toward the new target set by Goldman Sachs.
$OXY price target
Occidental Petroleum Corporation daily closes and this analyst's $76 target. Not advice.
Recent Earnings
Occidental Petroleum reported trailing twelve-month revenue of approximately $23.93 billion, reflecting a year-over-year revenue growth of 53.4%. The company achieved an earnings per share (EPS) of $3.52 and a net margin of 30.3%. The next earnings report is scheduled for November 9, 2026.
Insider Buying and Selling at Occidental Petroleum Corporation
On June 23, 2026, Richard A. Jackson, the CEO of Occidental Petroleum, bought 4,770 shares at an average price of $52.38, totaling approximately $249,853. This purchase indicates confidence from the company's leadership in its future performance.
Analysts Set New Price Targets
On October 27, 2026, Goldman Sachs maintained its Buy rating for Occidental Petroleum and raised its price target to $76. Earlier, on October 20, 2026, Susquehanna also maintained a Positive rating with a target of $77, while Stephens & Co. set a higher target of $80 on October 19, 2026. The consensus among analysts suggests a positive outlook, with a mean target of $70.54 from 26 opinions.
About Occidental Petroleum
Occidental Petroleum Corporation is an energy company involved in the acquisition, exploration, and development of oil and gas properties both in the United States and internationally. It operates mainly through its Oil and Gas segment, focusing on optimizing its transportation and storage capacity while investing in various entities.
Bottom Line
Investors should monitor Occidental Petroleum's upcoming earnings report on November 9, 2026, for further insights into its performance. Goldman Sachs' raised price target suggests confidence in the stock's potential growth, especially as it trades below the new target.
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Source: Goldman Sachs's rating change on $OXY (Oct 27, 2026). Written by software, not financial advice. How we make alerts