Wells Fargo raises target for Occidental Petroleum stock to USD 82
Published on 10/01/2026 at 16:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Occidental Petroleum stock (ISIN US6745991058) was trading at EUR 50.50 at Lang & Schwarz on October 1, 2026 at 4:04 p.m. CEST, up 3.34 percent from the prior close of EUR 48.87. According to MarketBeat on September 14, 2026, Wells Fargo raised its Occidental Petroleum target from USD 79.00 to USD 82.00 and kept an Overweight rating.
Quarterly earnings beat estimates
Zacks reported on September 4, 2026 that adjusted earnings reached USD 2.40 per diluted share in the second quarter of 2026, 25.00 percent above the USD 1.92 consensus estimate. Reported earnings were USD 2.75 per share, compared with USD 0.26 in the year-ago quarter.
Revenue reached USD 8.33 billion in the second quarter of 2026, up 57.10 percent from the prior-year period and 16.00 percent above the USD 7.18 billion consensus estimate. The Oil and Gas segment generated USD 6.88 billion, while Midstream and Marketing revenue rose 240.00 percent year over year to USD 1.33 billion.
Cash flow supports debt reduction
Occidental also produced 1.43 million barrels of oil equivalent per day in the second quarter of 2026, exceeding the guidance midpoint by 23,000 barrels per day. Its quarterly dividend rose 8.00 percent to USD 0.28 per share, while management raised full-year 2026 production guidance to 1.423 million to 1.453 million barrels of oil equivalent per day.
In the second-quarter earnings call, Fortune reported that Occidental had reduced principal debt to USD 11.80 billion and targeted more than USD 1.20 billion of free cash flow improvement in 2026 compared with 2025. Management also outlined USD 4.00 billion of annual sustainable cash flow improvement by 2030 compared with 2025, with 85.00 percent expected to be delivered at lower oil prices.
Target remains above the euro quote
The Wells Fargo target of USD 82.00 sits above the current euro quote, but the currencies and venues are different, so no direct target-distance calculation is applied. MarketBeat listed 17 Hold ratings and 10 Buy ratings among 27 analysts, with an average target of USD 65.17, while the company continues to balance production, debt reduction and dividend growth.
Stock trades above its prior close
At Lang & Schwarz, Occidental Petroleum was trading at EUR 50.50 on October 1, 2026 at 4:04 p.m. CEST, plus 3.34 percent versus the prior close of EUR 48.87. The primary listing is on the NYSE, where the finance quote showed USD 56.81 at 2:12 p.m. UTC on October 1, 2026; its market capitalization was USD 56.5 billion and its 52-week range was USD 38.80 to USD 67.45.
The further course of trading is shown by the continuously updated real-time quote of Occidental Petroleum stock.
Occidental Petroleum stock at a glance
- Company: Occidental Petroleum Corporation
- ISIN: US6745991058
- Ticker: OXY
- Primary exchange: NYSE
- Price Lang & Schwarz as of October 1, 2026 at 4:04 p.m. CEST: EUR 50.50
- Change versus prior close: plus 3.34 percent
- Prior close Lang & Schwarz September 30, 2026: EUR 48.87
- Market capitalization: USD 56.5 billion as of October 1, 2026
- 52-week range: USD 38.80-67.45 as of October 1, 2026
- Sector / Industry: Energy / Oil and Gas Exploration and Production
- Next earnings date: November 8, 2026
