Susquehanna reiterates Positive rating on Occidental stock at $77
Susquehanna reiterated a Positive rating on Occidental Petroleum (OXY) with a $77 price target. OXY's Q3 results beat expectations, with adjusted EPS of $1.91 and production of 1,427 Mboe/d. The stock has a P/E ratio of 12.74 and is considered undervalued. Management guided Q4 production and maintained capital expenditure guidance. OXY generated $2.8B in free cash flow and reduced debt by $1.8B. Wells Fargo lowered its price target to $76 but kept an Overweight rating.
How this was made
The 30-second read
Why it matters
The earnings beat and rating upgrade provide a fresh catalyst for price appreciation, though revenue miss tempers enthusiasm.
Market read
The news is directly relevant to OXY shareholders and energy‑sector traders, offering a short‑term upside opportunity.
What to watch
Potential downside from lower-than-expected revenue and future gas price uncertainty.
Background
Susqueña reiterated a Positive rating on Occidental after the company posted Q3 results that beat EPS expectations but missed revenue forecasts.
Ticker impact
Occidental Petroleum reported Q3 earnings beating EPS expectations and Susquehanna reiterated a Positive rating with a $77 price target.
likely upward pressure as the market prices in the earnings beat and rating upgrade
EPS beat of $1.91 vs $1.39 estimate and a fresh $77 target provide a clear catalyst for buying interest.
Market effects
Energy sector may see modest lift as a major integrated oil producer posts a strong earnings beat.
U.S. markets could see a small boost in energy stocks following the news.
Limited to investors tracking U.S. oil majors; no broader macro impact.
Counterpoint
If the earnings beat is already priced in, the stock may face short‑term profit taking.
Key entities
- companyOccidental Petroleum
U.S. integrated oil and gas producer (ticker OXY).
- research_firmSusqueña
Equity research house that issued the rating and price target.
