Occidental Petroleum stock gets a higher Goldman Sachs target
Published on 10/06/2026 at 17:33 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Occidental Petroleum (ISIN US6745991058) stock was trading at USD 58.59 on the NYSE on October 6, 2026, while Goldman Sachs raised its price target to USD 69 from USD 63. The upgrade gives investors a fresh test of whether Occidental's debt reduction and cash flow plan can support a higher valuation.
Goldman raises its target
According to Investing.com on October 1, 2026, Goldman Sachs upgraded Occidental from Neutral to Buy and lifted its target by USD 6, or 9.5 percent. The bank cited advanced recovery technology, debt reduction and dividend growth potential.
Goldman Sachs also identified a potential USD 4.0 billion cash flow improvement by 2030. That figure is a longer-term operating target, so the next quarterly report will matter more than the price target itself for testing execution.
Q2 delivered a large beat
Occidental's second-quarter 2026 adjusted earnings per share reached USD 2.40 against a USD 1.86 consensus, according to Investing.com. The USD 0.54 difference represents a 29.0 percent beat against that consensus figure.
Second-quarter revenue reached USD 8.33 billion against an estimate of USD 7.22 billion, a USD 1.11 billion difference and a 15.4 percent beat. The finance statement also puts diluted GAAP earnings per share at USD 2.75 for the quarter ended June 30, 2026.
Consensus leaves limited upside
A separate AnaChart overview dated October 1, 2026, says 22 analysts cover Occidental. The group average target is USD 60.58, which places the target USD 1.99, or 3.4 percent, above the NYSE price of USD 58.59.
The same overview lists 28.4 percent of ratings as Buy, 55.56 percent as Hold and 16.05 percent as Sell. The split makes debt reduction and repeatable cash generation the key counterweight to the bullish Goldman view.
Stock trades below yearly high
Occidental's 52-week range is USD 38.80 to USD 67.45, leaving the October 6 price USD 8.86, or 13.1 percent, below the high. Its market capitalization is USD 58.3 billion and trading volume stood at 1,937,259 shares at the quoted time.
November results set the next test
Moomoo reported the company announcement dated October 1, 2026, that third-quarter 2026 results will be released after the market close on November 9, 2026, followed by a conference call on November 10. That report should show whether the Q2 earnings beat is translating into continued balance-sheet progress.
NYSE price holds at USD 58.59
Occidental Petroleum stock was last at USD 58.59 on the NYSE on October 6, 2026 at 11:33 a.m. ET, up 0.47 percent from the USD 58.31 prior close.
Occidental Petroleum stock facts
- Company: Occidental Petroleum Corporation
- ISIN: US6745991058
- Ticker: OXY
- Trading venue: NYSE
- Price (as of October 6, 2026, 11:33 a.m. ET): USD 58.59
- Market capitalization: USD 58.3 billion (as of October 6, 2026)
- 52-week range: USD 38.80-67.45 (as of October 6, 2026)
- Sector / Industry: Energy / Oil and gas exploration and production
Upcoming dates for Occidental Petroleum stock
- November 9, 2026: Third-quarter 2026 results
- November 10, 2026: Third-quarter results conference call
