UBS Raises its Price Target on Occidental Petroleum (OXY) to $67

Occidental Petroleum Corporation (NYSE:OXY) is one of the 10 Stocks to Buy on a Pullback.

On April 12, 2026, UBS raised its price target on Occidental Petroleum Corporation (NYSE:OXY) to $67 from $64 while maintaining a Neutral rating. The firm noted ongoing exposure to the Middle East, including suspended operations at Al Hosn, but expects another strong operational update outside of that impact.

On April 8, 2026, Occidental Petroleum Corporation (NYSE:OXY) announced an oil discovery at the Bandit prospect in the Gulf of America, approximately 125 miles south of Louisiana. The well, located in Green Canyon Block 680, encountered high-quality oil-bearing Miocene sands. Occidental, which operates the project with a 45.375% working interest alongside Chevron and Woodside Energy, is evaluating results, with the discovery offering potential for subsea tie-backs to nearby infrastructure.

Earlier, Wells Fargo raised its price target on Occidental Petroleum Corporation (NYSE:OXY) to $72 from $69 and maintained an Overweight rating, adjusting its long-term oil price outlook to $75 Brent and $70 WTI following a ceasefire in Iran. The firm said the current setup resembles a mid-cycle correction that could present an entry point for a more orderly re-rating of select energy stocks.

Occidental Petroleum Corporation (NYSE:OXY) is an oil and gas exploration and production company with operations in the U.S. and internationally.

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