JPMorgan and Piper Sandler Raise PT on Occidental Petroleum Corporation (OXY)

Occidental Petroleum Corporation (NYSE:OXY), with its low price-to-earnings multiple and significant presence in Warren Buffett’s investment portfolio, secures a spot on our list of the 12 Cheap Value Stocks to Buy Now According to Warren Buffett.

On July 15, 2025, JPMorgan increased its price target on Occidental Petroleum Corporation (NYSE:OXY) from $47 to $48, maintaining a ‘Neutral’ rating. The investment firm expects Q2 2025 performance of the company to be weaker-than-expected. Accordingly, the analyst forecasted earnings per share (EPS) of $0.24, below the Street estimate of $0.34. Furthermore, the analyst projected cash flow per share of $2.36, 6% below consensus. Due to a reduction in the company’s production volume caused by extended facility maintenance and timing delays, the analyst forecasted production volumes of 1,394 Mboe/d, slightly missing estimates. Meanwhile, JPMorgan expects the company’s OxyChem segment to fall short of guidance and the midstream segment to show improved performance.

Two days later, Piper Sandler also increased its price target on Occidental Petroleum Corporation (NYSE:OXY) from $48 to $50, maintaining a ‘Neutral’ rating. The analyst remains cautious about the oil and gas sector amid a volatile pricing environment and high supplies. However, Piper Sandler expects strong long-term gas demand.

With a significant presence in North America, the Middle East, and Latin America, Occidental Petroleum Corporation (NYSE:OXY) is an international oil and gas company. It is included in our list of the cheap value stocks to buy.

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