Occidental Petroleum stock gets Goldman upgrade before Q3 results
Published on 10/03/2026 at 23:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Occidental Petroleum (ISIN US6745991058) closed at USD 58.08 on the NYSE on October 2, 2026, up 0.41 percent from the previous close. The immediate catalyst was a Goldman Sachs upgrade to Buy from Neutral on October 1, which lifted the price target to USD 69 from USD 63.
Goldman raises the target
According to Investing.com on October 1, 2026, Goldman Sachs upgraded Occidental Petroleum to Buy and raised its target from USD 63 to USD 69. The target lies 18.8 percent above the October 2 price, while Goldman highlighted debt reduction, dividend growth potential and a self-help initiative targeting USD 4.0 billion in cash flow improvement by 2030.
Quarterly earnings reset the baseline
Occidental's second-quarter 2026 adjusted earnings reached USD 2.40 per share against Wall Street consensus of USD 1.86, a 29.0 percent difference, while revenue reached USD 8.33 billion against USD 7.22 billion estimates, according to Investing.com. The same Q2 2026 update cited free cash flow of USD 3.0 billion, giving the upgrade a measurable operating foundation rather than relying only on valuation.
November brings the next test
GlobeNewswire reported on October 1, 2026, that Occidental will announce third-quarter 2026 results after the market close on November 9, 2026, followed by a conference call on November 10 at 1:00 p.m. ET. That date gives investors a defined checkpoint for whether the Q2 earnings strength and debt-reduction narrative are carrying into the second half.
Stock stays below the yearly high
At the October 2, 2026 NYSE close, Occidental Petroleum had a market capitalization of USD 58.1 billion and trading volume of 8,872,692 shares. The USD 58.08 price remained below the 52-week high of USD 67.45 and above the 52-week low of USD 38.80.
Occidental Petroleum stock data
- Company: Occidental Petroleum Corporation
- ISIN: US6745991058
- WKN: 851921
- Ticker: OXY
- Trading venue: NYSE
- Closing price (October 2, 2026): USD 58.08
- Market capitalization: USD 58.1 billion (as of October 2, 2026)
- 52-week range: USD 38.80-67.45 (as of October 2, 2026)
- Sector / Industry: Energy / Oil and Gas Exploration and Production
- Next earnings date: November 9, 2026
