
Occidental Petroleum (OXY) Stock Forecast & Price Target
Occidental Petroleum (OXY) Analyst Ratings
Bulls say
Occidental Petroleum is supported by a stronger operating profile under new CEO Richard Jackson, with 2Q results benefiting from Midstream & Marketing strength, lower costs, and higher realizations. Its roughly 16Bboe resource base and 2025 proved reserves of 4.6 billion boe give it significant runway, while 2025 production of 1.4 million boe/d was still weighted 74% toward oil and natural gas liquids, enhancing cash generation. The company’s $4 billion sustainable cash flow improvement plan from 2025 to 2030, alongside debt reduction toward a $10 billion goal and improving efficiency, supports a more durable fundamental outlook.
Bears say
Occidental Petroleum is facing a negative fundamental outlook because its unhedged production exposes cash flow and EBITDA to sharp swings in oil, NGL, and gas prices, while weak LNG and power demand or limited pipeline capacity could keep natural gas pricing depressed. The company’s 2025 base of 4.6 billion barrels of oil equivalent in net proved reserves and 1.4 million barrels of oil equivalent per day of production is substantial, but those volumes do not fully offset the risk that recent strip prices and commodity volatility will compress profitability, as reflected in the lowered 2Q26 CFPS estimate to $3.82 and 2026 CFPS estimate to $13.06. Additional downside comes from potential cost inflation, higher taxes, and execution risk in CCUS and drilling productivity, which could delay cash flows and weaken the quality of the inventory supporting valuation.
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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