Is OXY stock expected to go up? Occidental Petroleum already rallied roughly 48% from its December 2025 low near $41 to the $60 to $64 range by October 2026. The move was driven by the $9.7 billion OxyChem sale to Berkshire Hathaway, accelerated debt reduction, and Buffett's accumulation to a 23.6% stake.
The bull case for further upside rests on low-cost Permian production, a cleaner balance sheet, and analyst targets ranging from $64 to $82. The November 9 earnings report will test whether the four-quarter beat streak continues.
The risk is oil prices.
Without OxyChem as a buffer, OXY stock is more correlated with WTI than before. Crude near the high $50s to low $60s keeps the company cash-flow positive but limits the free cash flow needed for buybacks or dividend increases.
I hold my position at current levels and will revisit after earnings.
The easy upside from the re-rating has been captured; what remains is an oil-price call. Not a guaranteed outcome, and your oil view may differ.
#OXY #OccidentalPetroleum #OilStocks #WTI #EnergyStocks
The bull case for further upside rests on low-cost Permian production, a cleaner balance sheet, and analyst targets ranging from $64 to $82. The November 9 earnings report will test whether the four-quarter beat streak continues.
The risk is oil prices.
Without OxyChem as a buffer, OXY stock is more correlated with WTI than before. Crude near the high $50s to low $60s keeps the company cash-flow positive but limits the free cash flow needed for buybacks or dividend increases.
I hold my position at current levels and will revisit after earnings.
The easy upside from the re-rating has been captured; what remains is an oil-price call. Not a guaranteed outcome, and your oil view may differ.
#OXY #OccidentalPetroleum #OilStocks #WTI #EnergyStocks