why is oxy stock going up

Will OXY stock continue to rise?

The 23 analysts offering 12-month price forecasts for Occidental Petroleum Corp have a median target of 74.00, with a high estimate of 90.00 and a low estimate of 52.00. The median estimate represents a +23.75% increase from the last price of 59.80.

Is OXY a good stock to buy?

OXY stock has gained more than 140% YTD, outperforming the XLE's 62.64% gains. In addition, Occidental's incredible performance has outperformed the SPDR S&P 500 ETF (SPY) and the Invesco QQQ ETF (QQQ) YTD.

Is OXY stock a buy or sell?

Occidental Petroleum (OXY) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.

Will a buffet buy OXY?

Berkshire Hathaway continued to add to its large stake in Occidental Petroleum OXY –2.19% in recent days, buying about 900,000 shares and lifting its interest in the energy company to 15.3%, according to a filing Thursday evening.

Is OXY a good long term stock?

In fact, the current growth estimate for this year calls for earnings-per-share growth of 122.6%. Furthermore, the long-term growth rate is currently an impressive 33.7%, suggesting pretty good prospects for the long haul.

What is the outlook for Occidental Petroleum?

On average, analysts forecast that OXY's EPS will be $10.36 for 2022, with the lowest EPS forecast at $8.66, and the highest EPS forecast at $14.13. On average, analysts forecast that OXY's EPS will be $8.45 for 2023, with the lowest EPS forecast at $5.18, and the highest EPS forecast at $14.53.

What company did Occidental Petroleum buy?

Anadarko PetroleumOccidental produces about 1.2 million barrels of oil equivalent daily and has been an industry leader in carbon capture. The company was burdened by high debt from its 2019 purchase of Anadarko Petroleum, but it has been rapidly paying that down thanks to the strength in energy prices.