Occidental Petroleum, the Energy sector company, was revisited by a Wall Street analyst yesterday. Analyst Robert Hodges from TD Cowen maintained a Hold rating on the stock and has a $54.00 price target.
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Robert Hodges has given his Hold rating due to a combination of factors tied to Occidental Petroleum’s improving fundamentals but balanced risk‑reward profile. He recognizes that the company has materially strengthened its balance sheet and outlined ambitious 2026 plans centered on modest production growth, lower capital spending, and sizable structural cost reductions that enhance capital efficiency.
At the same time, he sees limits to upside as the shares already reflect much of this progress and there is uncertainty around how sustainable the leaner capital program will be if oil prices remain supportive. In his view, overall shareholder returns are likely to trail peers because the sizable Berkshire Hathaway preferred dividend burden will persist until its expected redemption in 2029, making the stock appear fairly valued at current levels rather than compellingly cheap.
In another report released on February 20, Morgan Stanley also maintained a Hold rating on the stock with a $53.00 price target.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of OXY in relation to earlier this year.