On February 14, 2023, Goldman Sachs upgraded their outlook for Occidental Petroleum from Neutral to Buy.

Analyst Price Forecast Suggests 16.44% Upside

As of February 15, 2023, the average one-year price target for Occidental Petroleum is $77.25. The forecasts range from a low of $61.61 to a high of $105.00. The average price target represents an increase of 16.44% from its latest reported closing price of $66.34.

The projected annual revenue for Occidental Petroleum is $34,516MM, a decrease of 4.99%. The projected annual EPS is $7.76, a decrease of 39.78%.

What are large shareholders doing?

Berkshire Hathaway holds 194,352K shares representing 21.45% ownership of the company. No change in the last quarter.

Dodge & Cox holds 92,957K shares representing 10.26% ownership of the company. In it’s prior filing, the firm reported owning 94,978K shares, representing a decrease of 2.17%. The firm decreased its portfolio allocation in OXY by 9.21% over the last quarter.

DODGX – Dodge & Cox Stock Fund holds 60,554K shares representing 6.68% ownership of the company. In it’s prior filing, the firm reported owning 61,015K shares, representing a decrease of 0.76%. The firm increased its portfolio allocation in OXY by 11.53% over the last quarter.

XLE – The Energy Select Sector SPDR Fund holds 21,771K shares representing 2.40% ownership of the company. In it’s prior filing, the firm reported owning 24,880K shares, representing a decrease of 14.28%. The firm decreased its portfolio allocation in OXY by 8.02% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 20,840K shares representing 2.30% ownership of the company. In it’s prior filing, the firm reported owning 22,076K shares, representing a decrease of 5.93%. The firm increased its portfolio allocation in OXY by 2.70% over the last quarter.

What is the Fund Sentiment?

There are 1905 funds or institutions reporting positions in Occidental Petroleum. This is an increase of 25 owner(s) or 1.33% in the last quarter. Average portfolio weight of all funds dedicated to OXY is 0.41%, an increase of 3.27%. Total shares owned by institutions increased in the last three months by 2.89% to 826,660K shares. The put/call ratio of OXY is 0.87, indicating a bullish outlook.

Occidental Petroleum Background Information
(This description is provided by the company.)

Occidental is an international energy company with assets in the United States, Middle East, Africa and Latin America. It is one of the largest oil producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Its midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Its chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. Its Oxy Low Carbon Ventures subsidiary is advancing leading-edge technologies and business solutions that economically grow its business while reducing emissions. It is committed to using its global leadership in carbon management to advance a lower-carbon world.

This article originally appeared on Fintel