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Occidental Petroleum Corp. (OXY) is still trying to recover from the impact of a global trade war on oil prices. While the energy company may not be directly affected by U.S. tariffs, the fear that they’ll weaken demand for petroleum worldwide has sent shares down 9% since the beginning of the year.
In this article, we’ll look at OXY’s latest share price, Wall Street sentiment, multiyear price forecasts, and the key factors that are playing a critical role in the company’s path going forward.
Current Stock Overview
Market Cap: $45 billion
Trailing P/E Ratio: 26.75
Forward P/E Ratio: 16.95
1-Year Return: -11%
2025 YTD: -9%
Occidental Petroleum shares have lost 9% of their value year-to-date and still haven’t recovered their losses since March when tariff uncertainty sparked a stock market correction. They’re currently trading around $45 as of September 2025.
Crude supply and demand are critical factors that influence OXY’s stock. The International Energy Agency’s September Oil Market Report said demand inched higher last month, but while greater demand can lead to higher prices, output increases by OPEC+ are expected to exert downward pressure.
Most of Occidental Petroleum’s revenue comes from oil and gas, but the company is investing in carbon capture which makes up a small percentage of total revenue but has the potential to scale into a much greater opportunity. Global Market Insights forecasts a 16% CAGR for the global carbon capture and storage market from now until 2034.
OXY has also been making efforts to improve on its balance sheet. The company has paid off $3 billion in debt year-to-date, according to Q2 results. The paydown reduces interest payments and frees up more cash for dividends and reinvestments.
OXY stock has a consensus Sell rating from 25 analysts, according to Benzinga. The average price target is $54.22 per share, which suggests a 20.5% upside. The highest price target is $78, and the lowest is $44. The three most recent ratings suggest a near-term average target of $51.67, suggesting a 13.4% upside.
Quick Snapshot Table of Predictions
| Year | Lowest Prediction ($) | Average Prediction ($) | Maximum Prediction ($) |
| 2025 | 43.26 | 51.28 | 57.20 |
| 2026 | 98.78 | 109.16 | 119.86 |
| 2027 | 106.08 | 109.94 | 113.73 |
| 2028 | 85.37 | 88.68 | 96.11 |
| 2029 | 74.55 | 79.10 | 85.57 |
| 2030 | 142.25 | 153.74 | 164.92 |
The forecast range in this table is based on algorithmic projections provided by CoinCodex. These models use historical price trends, volatility patterns and moving averages to estimate future stock prices over multiple time horizons.
Bull & Bear Case
While the prospect of rising energy demand and new revenue streams support a rise in stock prices, continued trade uncertainty and supply issues are clouding the forecast.
Bull Case
- Rising oil demand gives OXY the ability to raise prices
- Carbon capture can become a valuable component in the company’s business in the future
- OXY continues to pay off debt, strengthening its balance sheet
Bear Case
- Tariff uncertainty could put more pressure on oil prices
- An increase in oil supply from OPEC+ can reduce prices and hurt OXY’s profit margins
- Carbon capture is highly speculative and may not pan out as bulls hope
Stock Price Prediction for 2025
Forecast Range: $43.26 – $57.20
CoinCodex forecasts Occidental Petroleum reaching an average estimated value of $51.28 per share this year, implying a 14% upside from current levels. Rising demand for oil and continued debt paydown serve as catalysts for the outlook.
Stock Price Prediction for 2026
Forecast Range: $98.78 – $119.86
CoinCodex sees OXY stock reaching an average estimated value of $109.16 in 2026, suggesting that shares will more than double from their current price. Inflation was a key factor in 2022 that helped OXY beat the market, and that could be the spark that results in a rising stock price. Higher demand for oil and any potential reductions in oil supply can push shares higher.
Stock Price Prediction for 2030
Forecast Range: $142.25 – $164.92
Five years out, CoinCodex projects an average price target of $153.74 for OXY, which suggests shares will more than triple. The price target also implies a 27.85% CAGR during that stretch. Favorable changes to oil demand and supply will play a role, but Occidental Petroleum will also have to aggressively pay off debt and see meaningful results from its carbon capture segment to reach this price target.
Any economic uncertainty, waning demand for oil, inability to pay off future debt, rising supply, and the inability of carbon capture to generate meaningful revenue can make this forecast difficult to reach.
Investment Considerations
Occidental Petroleum benefits when there’s high demand for energy, and it’s poised to capitalize on carbon capture as that business model gains traction. An oversupply of oil could put more pressure on the stock in the short run and cast doubts on the most ambitious price targets.
Income investors may take notice of a respectable dividend yield, and as the company pays down more of its debt, freed-up cash could go toward more payout increases.
Economic uncertainty, carbon capture’s viability, and increased competition are some of the factors that could send the stock lower. However, OXY has been improving its balance sheet, which could make it more attractive to patient investors.
Frequently Asked Questions
A
OXY stock may be a good long-term play due to the continued need for energy plus the promising carbon capture segment.
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CoinCodex projects an average price target of $153.74 per share by 2030, which suggests OXY stock will more than triple.
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Yes. OXY stock offers an annual dividend of $0.96 a share to investors with a yield of 2.1% as of September 2025.
