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.

While we acknowledge the risk and potential of OXY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than OXY and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 15 Best Nuclear Power Stocks to Buy According to Wall Street Analysts and 12 Best LNG Stocks to Buy in 2026

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1