Piper Sandler and BofA Raise Occidental (OXY) Price Targets

Occidental Petroleum Corporation (NYSE:OXY) is one of the 12 Best Oil and Gas Stocks to Buy Right Now. On January 28, Piper Sandler slightly increased its price target on Occidental Petroleum Corporation (NYSE:OXY) from $46 to $47 and kept its Neutral rating on the stock.

The research firm pointed out that it expects strong Q4 results from gas companies. However, Piper Sandler noted that weaker oil and natural gas liquids prices, along with WAHA pricing, were a challenge for oil stocks. Looking ahead to fiscal 2026, the firm expects oil companies to focus on maintenance programs, while a number of gas-producing companies are focusing on growth to meet rising LNG demand.

Earlier, on January 27, BofA also raised its price target on Occidental Petroleum Corporation (NYSE:OXY) from $44 to $45 while maintaining a Neutral rating on the stock. This increase in price target comes as the firm updates its price targets across integrated, refining, and midstream stocks under its coverage.

BofA pointed out that the removal of Maduro in Venezuela and the unrest in Iran have helped push front-month crude prices higher. The firm added that both geopolitical developments and company-specific factors could act as catalysts going forward.

Occidental Petroleum Corporation (NYSE:OXY) is an American multinational energy company with assets primarily in the United States, the Middle East, and North Africa. The company is one of the largest oil and gas producers in the US.

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Disclosure: None. This article is originally published at Insider Monkey.