OXY

Over the past six months, Occidental Petroleum's stock price has increased by 31.23%. Key events impacting OXY's stock include a strong Q1 2026 earnings report, aggressive debt deleveraging, the CrownRock acquisition, geopolitical tensions driving up oil prices, a shift in oil hedging strategy, and positive analyst ratings. Occidental reported a strong first quarter, with net income attributable to common stockholders of $3.2 billion and diluted EPS of $3.13, exceeding analyst estimates. The company has been aggressively deleveraging, repaying $7.1 billion of principal debt through May 5, 2026, and reducing its principal debt to $13.3 billion. In 2024, OXY closed the $12 billion CrownRock acquisition, which enhanced its Permian asset portfolio and contributed to an 8% year-over-year production growth in 2025. Geopolitical tensions, such as the Middle East war, have driven oil prices over $100 a barrel, positively impacting U.S. oil companies, including Occidental. Occidental recently stopped hedging oil at a $76-a-barrel ceiling, indicating a bullish outlook on future oil prices. Raymond James raised its price target for OXY from $64 to $75, maintaining an "outperform" rating.