- Occidental Petroleum (OXY, Financial) faces potential impacts from U.S. Department of Energy funding cuts.
- Analysts predict a notable upside for OXY stock, with an average price target of $51.46.
- GuruFocus estimates suggest a fair value with a significant upside potential.
The U.S. Department of Energy's planned funding cuts could significantly affect Occidental Petroleum (OXY), specifically its carbon capture project in South Texas. This decision is part of a broader federal budget reduction affecting multiple clean energy initiatives. Investors are keenly observing how these changes might influence Occidental's strategic trajectory and financial health.
Wall Street Analysts' Projections
Renowned Wall Street analysts have provided a range of one-year price targets for Occidental Petroleum Corp (OXY, Financial). With insights from 24 analysts, the average target price is pegged at $51.46. Price expectations fluctuate between a high of $64.00 and a low of $38.00. The average target indicates a potential upside of 27.48% from the current stock price of $40.37. For further detailed estimates, visit the Occidental Petroleum Corp (OXY) Forecast page.
The consensus recommendation among 27 brokerage firms categorizes Occidental Petroleum Corp (OXY, Financial) with an average recommendation of 2.8, placing it in the "Hold" category. The recommendation scale varies from 1, indicating a "Strong Buy," to 5, denoting a "Sell."
GuruFocus's Fair Value Estimate
According to GuruFocus, the estimated GF Value for Occidental Petroleum Corp (OXY, Financial) in the upcoming year is $55.58. This reflects a promising upside of 37.68% compared to the current price of $40.37. The GF Value is derived from historical trading multiples, previous business growth, and projected future performance. Investors can access more detailed insights on the Occidental Petroleum Corp (OXY) Summary page.
In summary, while immediate challenges such as funding cuts may pose hurdles, the long-term outlook for Occidental Petroleum reflects potential growth and investment opportunity, underpinned by analyst forecasts and GuruFocus valuations.
