Occidental Petroleum Stock Is Volatile Thursday: What’s Driving The Action? – Occidental Petroleum (NYSE:

Early Oil Spike Supported OXY’s Bull Case

The morning move made sense because OXY is highly leveraged to crude prices. As a major U.S. oil and gas producer, Occidental’s upstream earnings and cash flow are closely tied to realized oil prices, so any geopolitical development that threatens global supply can quickly lift the stock.

WTI crude briefly moved back above $100 a barrel before later trimming gains.

Lebanon-Israel Talks Helped Cool The Energy Trade

For Occidental Petroleum, that matters because once oil stops accelerating higher, the urgency behind buying oil-sensitive producers can fade fast.

Analysts See Lower EPS And Revenue Ahead Of May 5 Report

Following last quarter’s results, investors are now tracking the path toward the next reporting date on May 5.

EPS Estimate: 68 cents (Down from 87 cents year-over-year)

Revenue Estimate: $5.55 billion (Down from $6.84 billion YoY)

Valuation: P/E of 44.3x (Indicates premium valuation relative to peers)
Analyst Targets Trend Higher Even As Wall Street Stays Cautious

The stock carries a Hold rating with a consensus price target of $57.08. Recent analyst moves include:

Wells Fargo: Overweight (Raises target to $72 on April 9)

Citigroup: Neutral (Raises target to $67 on March 30)

Truist Securities: Initiated with Hold (Target $65 on March 24)
OXY Shares Edge Lower Tuesday Afternoon

OXY Price Action: Occidental Petroleum shares were down 2.07% at $58.83 at the time of publication on Thursday, according to Benzinga Pro data.

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