Roth Capital upgrades Occidental Petroleum stock to Buy with USD 70 target

Published on 10/20/2026 at 10:36 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Occidental's third-quarter oil share was 48.80 percent. Occidental Petroleum stock costs EUR 56.18 on October 20, 2026.

Roth Capital changes its stance

Roth Capital upgraded Occidental Petroleum to Buy with a USD 70.00 target on October 19, 2026.
Occidental's third-quarter oil share was 48.80 percent, with worldwide oil realized at USD 85.91 per barrel.
Occidental Petroleum stock traded at EUR 56.18 at 10:32 a.m. CEST at Lang & Schwarz on October 20, 2026.

Fotorealistische Ölförderpumpen in trockener Wüstenlandschaft des Permian-Basin bei Abendlicht — Occidental Petroleum US6745991058 zeigt fotorealistische Ölförderpumpen im weiten Permian-Basin bei stimmungsvollem Sonnenuntergang heute, Illustration mit AI erstellt.

Occidental Petroleum (ISIN US6745991058) stock was trading at EUR 56.18 at Lang & Schwarz on October 20, 2026 at 10:32 a.m. CEST. MarketScreener reported that Roth Capital upgraded the stock to Buy and set a USD 70.00 price target on October 19, 2026.

Analysts reset the valuation debate

The Roth call followed a series of target changes ahead of Occidental's third-quarter report. Ground News said Goldman Sachs raised its target from USD 63.00 to USD 69.00 and upgraded the rating from Neutral to Buy on October 1, 2026.

The valuation case is tied to debt reduction and cash-flow execution rather than a simple production story. The Goldman summary cited Occidental's USD 4.00 billion sustainable cash-flow improvement initiative targeting 2030.

What does the Q3 update signal?

StockTitan reported that Occidental's third-quarter 2026 preliminary update put oil at 48.80 percent of total company production. Worldwide oil realized prices were USD 85.91 per barrel, while crude-oil collar settlements reduced operating cash flow before working capital by USD 94.00 million.

The same filing cited Gulf of America net sales volumes of 110.00 thousand barrels of oil equivalent per day and domestic lease operating costs of USD 8.54 per barrel of oil equivalent for the three months ended September 30, 2026. Those figures give investors concrete markers for the earnings call, while the pipeline-related downtime remains an operating pressure point.

When are the next company dates?

The Financial Times carried Occidental's announcement that third-quarter results are scheduled after the market close on November 9, 2026. The company plans a conference call on November 10, 2026 at 1:00 p.m. ET.

Stock stays tied to execution

Occidental's latest analyst targets put capital allocation and production reliability ahead of headline growth. The company combines oil and gas production with chemicals and carbon-management activities, giving the upcoming report two tests: operating delivery and progress on cash flow.

Occidental Petroleum stock was trading at EUR 56.18 at Lang & Schwarz on October 20, 2026 at 10:32 a.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Occidental Petroleum stock.