JPMorgan analyst Arun Jayaram downgraded Occidental (OXY) to Underweight from Neutral with a price target of $44, down from $51. The firm adjusted ratings in the exploration and production space as part of its 2026 outlook. JPMorgan sees supply side risks for oil and liquids, but says the “long-awaited demand inflection for natural gas has finally arrived.” The magnitude of the crude oil oversupply, plus a potential end to the Russia-Ukraine conflict in 2026, is a “double whammy” for lower oil prices, the analyst tells investors in a research note.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OXY:
- Occidental price target lowered to $51 from $52 at Morgan Stanley
- Occidental price target lowered to $45 from $49 at Citi
- Occidental price target lowered to $46 from $47 at Piper Sandler
- Occidental price target raised to $55 from $54 at Susquehanna
- Occidental Petroleum’s Earnings Call Highlights Record Production and Debt Reduction