OXY
Energy · Oil & Gas Exploration & ProductionOCCIDENTAL PETROLEUM CORP
$57.99
+0.85%
AI Research
OXY Rallies 36% Since Dec to 1-Year High $59.15 → Wells Fargo Upgrades to Overweight, PT $69
Occidental Petroleum rallied 36% from December 2025, hitting a 1-year high of $59.15 on March 16, fueled by an 8% spike in oil prices following escalating US-Iran geopolitical tensions and disruptions near the Strait of Hormuz boosting global crude markets. Wells Fargo upgraded OXY from Underweight to Overweight with a price target raised to $69, joined by Piper Sandler at Overweight/$66 and Barclays at Equal Weight/$59, reflecting broad analyst reassessment of the company's upstream earnings leverage to elevated oil prices. Risks include potential oil price reversal if geopolitical tensions de-escalate, with the consensus average analyst price target of $54.80 remaining below the current trading price of $57.25.