Occidental Petroleum (OXY) Upgraded at Barclays, Price Target Raised by $13

Occidental Petroleum Corporation (NYSE:OXY) is included among the 14 Best Oil and Gas Stocks to Buy According to Hedge Funds.

Occidental Petroleum (OXY) Upgraded at Barclays, Price Target Raised by $13

Occidental Petroleum Corporation (NYSE:OXY) is an international energy company that produces, markets, and transports oil and natural gas.

On May 26, Barclays upgraded Occidental Petroleum Corporation (NYSE:OXY)  from ‘Equal Weight’ to ‘Overweight’, while also raising its price target on the stock from $59 to $72. The target boost reflects an upside of over 27% from the current levels.

Occidental’s principal debt stood at $13.3 billion at the end of the first quarter, and the company has a near-term target to reduce it to $10 billion. According to Barclays, the soaring oil prices amid the Middle East crisis should allow the company to achieve its debt goals and fully pre-fund its Berkshire preferred equity obligations by the second half of 2027. The analyst firm believes that as concerns over leverage fade, investors should shift their focus on Occidental’s “top-tier” resource portfolio and improved capital efficiency.

Occidental Petroleum Corporation (NYSE:OXY) was also recently included in our list of the 10 Best Value Stocks to Buy in 2026 According to Warren Buffett.

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