Goldman Sachs upgraded Occidental Petroleum stock to Buy
Published on 10/08/2026 at 16:55 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- Goldman Sachs upgraded Occidental Petroleum to Buy and raised its price target from USD 63.00 to USD 69.00 on October 1, 2026.
- Second-quarter 2026 revenue reached USD 8.33 billion, up 30.00 percent from the comparable quarter.
- The Lang & Schwarz quote was EUR 53.18 on October 8, 2026, plus 2.07 percent versus the EUR 52.10 prior close.
Occidental Petroleum (ISIN US6745991058) was trading at EUR 53.18 at Lang & Schwarz on October 8, 2026 at 4:42 p.m. CEST, up 2.07 percent versus the EUR 52.10 prior close. The latest company-specific signal was Goldman Sachs upgrading the stock to Buy and raising its target from USD 63.00 to USD 69.00 on October 1, 2026, as Markets Insider reported.
Goldman target reaches USD 69.00
The Goldman action changed both the rating and the valuation reference: the recommendation moved from Neutral to Buy, while the price target rose by USD 6.00. The research note cited debt reduction, dividend growth potential and a company initiative targeting USD 4.00 billion in cash flow improvement by 2030, according to Investing.com.
Three milestones shape the story
Simply Wall St records three dated developments: on April 9, 2026, Occidental reported a 45.38 percent working interest in the Bandit prospect; on August 8, 2026, it provided third-quarter production guidance of 1.40 million to 1.44 million BOE per day; on October 1, 2026, the Goldman target moved from USD 63.00 to USD 69.00.
What does the next report add?
Occidental's second-quarter 2026 revenue reached USD 8.33 billion, up 30.00 percent from the second quarter of 2025, while reported net income reached USD 2.81 billion, according to Simply Wall St. A separate report put adjusted earnings per share at USD 2.40 against Wall Street consensus of USD 1.86, a USD 0.54 comparison gap, as Investing.com reported.
Results dates are set
Occidental will announce third-quarter 2026 results after the market close on November 9, 2026, and hold its conference call on November 10, 2026, according to Yahoo Finance. The November release will test whether the production range and debt-reduction strategy can support the valuation case behind the higher target.
Stock trades at EUR 53.18
Occidental Petroleum stock was trading at EUR 53.18 at Lang & Schwarz on October 8, 2026 at 4:42 p.m. CEST, up 2.07 percent versus the EUR 52.10 prior close. The structured quote showed a USD 59.6 billion market capitalization and a USD 38.80 to USD 67.45 52-week range on October 8, 2026. The further course of trading is shown by the continuously updated real-time quote of Occidental Petroleum stock.
Occidental Petroleum stock facts
- Company: Occidental Petroleum Corporation
- ISIN: US6745991058
- Ticker: OXY
- Primary exchange: NYSE
- Price Lang & Schwarz (as of October 8, 2026, 4:42 p.m. CEST): EUR 53.18
- Change versus prior close: plus 2.07 percent
- Prior close Lang & Schwarz (October 7, 2026): EUR 52.10
- Market capitalization: USD 59.6 billion (as of October 8, 2026)
- 52-week range: USD 38.80-67.45 (as of October 8, 2026)
- Sector / Industry: Energy / Oil and Gas Exploration and Production
- Next earnings date: November 9, 2026
Market context: Market report S&P 500.
