
Occidental Petroleum (OXY) Stock Forecast & Price Target
Occidental Petroleum (OXY) Analyst Ratings
Bulls say
Occidental Petroleum is on track for strong efficiency-led growth, with plans to drop rigs while bringing 15 more wells online, targeting a 12% well cost improvement by 2030 and already running at -7% this year. The recent strong financial results under new CEO Richard Jackson and a path towards $4 billion in sustainable cash flow improvements by 2029 highlights a clear focus on execution. While there is inherent volatility in the industry, the company's diverse portfolio and focus on debt paydown make it a solid investment option.
Bears say
Occidental Petroleum is a company with an excessive focus on reducing its net debt through capital allocation strategies. Despite strong fundamentals such as a robust midstream and marketing income, higher than expected Gulf of Mexico volumes, and plans for increased spending in international assets, the company still maintains a low priority on initiatives such as share buybacks and dividend growth, likely impacting future shareholder returns. With a projected decline in net debt and updated estimates indicating a decrease in cash flow per share, it is clear that Occidental Petroleum has a negative outlook due to its strict capital allocation priorities.
This aggregate rating is based on analysts' research of Occidental Petroleum and is not a guaranteed prediction by Public.com or investment advice.
Occidental Petroleum (OXY) Analyst Forecast & Price Prediction
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