
Occidental Petroleum (OXY) Stock Forecast & Price Target
Occidental Petroleum (OXY) Analyst Ratings
Bulls say
Occidental Petroleum is a top producer in the Permian Basin with over 1,400 net wells in production and a significant inventory of over 4,600 gross locations remaining, providing the company with a long runway for future growth. With a focus on debt reduction and return of capital, OXY is poised for continued success, especially with its expertise in unconventional EOR projects, yielding impressive results with +45% oil uplift, +25-35% IRR, and low single-digit declines. Overall, OXY's diverse asset base and strong capital efficiency make it an attractive investment for the long-term.
Bears say
Occidental Petroleum is facing a negative outlook due to risks such as a decline in oil and gas prices, potential increases in taxes, labor and supply chain issues, and potential risks from CO2 sequestration. Additionally, the company's efficiency gains may not be sustainable, and their international portfolio is concentrated in long-dated concessions with national oil companies. Despite a potential reduction in debt and planned share repurchases, the company's financial metrics and valuation are in line with peers, making it difficult to see any upside potential in the stock. Overall, the outlook is negative due to various risks and a potentially unsustainable efficiency model.
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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