BofA Trims Occidental Petroleum (OXY) Target to $44

Occidental Petroleum Corporation (NYSE:OXY) is included among the 13 Best Blue Chip Stocks to Buy Under $50.

On December 11, BofA analyst Jean Ann Salisbury trimmed her price target on Occidental Petroleum Corporation (NYSE:OXY) to $44 from $45. The analyst kept a Neutral rating on OXY.

Back in October, Berkshire Hathaway and Occidental Petroleum Corporation (NYSE:OXY) announced a deal in which Berkshire will buy Occidental’s chemical division, OxyChem, for $9.7 billion in cash, pending standard adjustments. OxyChem, a major global producer of essential commodity chemicals, manufactures products used in everything from water treatment and healthcare to pharmaceuticals and construction.

During the company’s Q3 2025 earnings update, CEO Vicki Hollub said the sale of OxyChem marks a major step in the company’s broader strategic shift and also noted that the move will help the company strengthen its balance sheet, bump up returns to shareholders, and free up capital for high-return projects in its core oil and gas operations.

Occidental Petroleum Corporation (NYSE:OXY) is a global energy player with operations mainly in the United States, the Middle East, and North Africa.

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Disclosure: None.