Stephens Raises Occidental Petroleum (OXY) Price Target to $80
Key Points
- Stephens reiterated an Overweight rating on Occidental Petroleum on October 19, 2026, while pushing its price target higher from $78.00 to $80.00.
- Stephens's $80 price target implies 28.09% upside from Occidental Petroleum Corporation's ($OXY) current $62.45 share price.
- Major institutional holders like Berkshire Hathaway and AQR Capital Management maintain large positions in the Houston-based energy firm, recent filings show.
- Occidental Petroleum trades near $62.45 with a trailing P/E ratio of 17.2, as investors look toward the company's next earnings update on November 9, 2026.
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On October 19, 2026, Stephens reaffirmed its Overweight rating on Occidental Petroleum Corporation (NYSE: OXY) and bumped up its price target for the energy producer.
OXY
Occidental Petroleum Corporation
Stephens vs. the S&P 500
Hypothetical returns from Stephens's disclosed trades, not real profit or advice. How we model this.
Stephens's Call on Occidental Petroleum
Stephens maintained its Overweight rating on the stock on October 19, 2026, while raising its price target from $78.00 to $80.00. A rating is the firm's forward-looking view on how the stock will perform. The firm sees more room to run for the oil and gas explorer, pushing its target higher to reflect confidence in the business.
Other Institutional Activity in Occidental Petroleum
Big institutional funds continue to hold large positions in Occidental Petroleum. Berkshire Hathaway, Inc held 264,941,431 shares worth about $16.6 billion with no change to its stake. Dodge & Cox Inc. reduced its holdings by 1,318,689 shares, ending with 72,764,944 shares worth roughly $4.6 billion, which is a 1.8% decrease. AQR Capital Management, LLC grew its holdings by 2,754,298 shares, ending with 11,473,188 shares worth about $718.3 million, marking a 31.6% increase.
Occidental Petroleum Corporation Stock Up 1.7%
Occidental Petroleum recently traded around $62.45 as of October 19, 2026. The stock sits 7.4% below its 52-week high of $67.45 and well above its 52-week low of $38.80. Shares also trade 5.5% above their 50-day moving average of $59.19 and 13.7% above their 200-day moving average of $54.92.
$OXY price target
Occidental Petroleum Corporation daily closes and this analyst's $80 target. Not advice.
Recent Earnings
Occidental Petroleum brought in $23.9 billion in trailing-twelve-month revenue with earnings of $3.52 per share. The company posted a net profit margin of 30.3% alongside a return on equity of 10.6%. The company's next earnings report is scheduled for November 9, 2026.
Dividend
Occidental Petroleum pays an annual dividend yielding 1.85%, supported by a dividend payout ratio of 28.4%.
Insider Buying and Selling at Occidental Petroleum Corporation
Chief Executive Officer Richard A. Jackson bought 4,770 shares on June 23, 2026, at a price of $52.38 per share for a total value of $249,853.
Analysts Set New Price Targets
Prior to Stephens's move, several other Wall Street firms adjusted their views on the stock. On October 1, 2026, Goldman Sachs upgraded the stock to Buy with a target of $69.00 up from $63.00. On October 14, 2026, UBS maintained a Neutral rating while raising its target from $67.00 to $73.00. On October 15, 2026, Morgan Stanley maintained an Equal-Weight rating and lifted its target from $69.00 to $71.00. On the same day, Truist Securities maintained a Hold rating and bumped its target from $63.00 to $64.00. Occidental Petroleum carries a consensus buy recommendation from 26 analyst opinions, with a mean price target of $69.35.
About Occidental Petroleum
Headquartered in Houston, Texas, Occidental Petroleum is an energy company that explores for and produces oil, natural gas liquids, and natural gas in the United States and around the world. The company operates through oil and gas segments alongside midstream and marketing operations, managing storage and transportation infrastructure.
Bottom Line
Stephens's raised price target points to continued confidence from the firm as the company heads toward its November earnings release. Investors will want to watch upcoming earnings results and future institutional filings to see how major shareholders adjust their positions.
Related Filing Alerts
Source: Stephens's rating change on $OXY (Oct 19, 2026). Written by software, not financial advice. How we make alerts