Occidental Petroleum Rises as Oil Spike and Analyst Support Lift Sentiment

Occidental Petroleum (OXY) is up 3.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears to be driven primarily by a sharp rise in crude prices, which boosted energy stocks broadly and improved sentiment around producers such as Occidental. Recent analyst price-target increases and the company’s own pre-earnings update also likely reinforced the view that stronger oil realizations could support near-term results.

Details:

Brent crude rose about 2.4% to $115.86 on October 23 and reached its highest level since March, as geopolitical supply concerns pushed oil prices higher.

Energy shares benefited from that backdrop across the market, with other large oil names also posting gains during the session.

In its October 13 SEC filing, Occidental said third-quarter production was within guidance despite temporary Gulf of America downtime, and it listed average worldwide realized oil prices of $85.91 per barrel for the quarter.

Analyst sentiment has also improved recently, with multiple firms lifting price targets in October, including increases to $77 and $80 from two separate firms.

Sources:

AP News, SEC, Benzinga

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$OXY Insider Trading Activity

$OXY insiders have traded $OXY stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $OXY stock by insiders over the last 6 months:

RICHARD A. JACKSON (President and CEO) purchased 4,770 shares for an estimated $249,852

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$OXY Hedge Fund Activity

We have seen 629 institutional investors add shares of $OXY stock to their portfolio, and 577 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

GQG PARTNERS LLC removed 18,311,639 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $889,396,306
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 5,760,317 shares (+inf%) to their portfolio in Q2 2026, for an estimated $279,778,596
QUBE RESEARCH & TECHNOLOGIES LTD added 5,585,331 shares (+inf%) to their portfolio in Q2 2026, for an estimated $271,279,526
INVESCO LTD. added 5,183,129 shares (+68.5%) to their portfolio in Q2 2026, for an estimated $251,744,575
BANK OF NEW YORK MELLON CORP added 4,882,834 shares (+84.8%) to their portfolio in Q2 2026, for an estimated $237,159,247
PACER ADVISORS, INC. added 3,622,193 shares (+inf%) to their portfolio in Q2 2026, for an estimated $175,929,914
DANSKE BANK A/S added 3,549,539 shares (+9370.5%) to their portfolio in Q2 2026, for an estimated $172,401,109

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$OXY Price Targets

Multiple analysts have issued price targets for $OXY recently. We have seen 5 analysts offer price targets for $OXY in the last 6 months, with a median target of $68.0.

Here are some recent targets:

Stephen Richardson from Evercore ISI Group set a target price of $65.0 on 07/08/2026
Devin McDermott from Morgan Stanley set a target price of $68.0 on 06/29/2026
Nitin Kumar from Mizuho set a target price of $75.0 on 05/27/2026
Betty Jiang from Barclays set a target price of $72.0 on 05/26/2026
Gabe Daoud from Truist Securities set a target price of $57.0 on 05/08/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.