$OXY

The S&P 500 rose 0.4% to 7,615.70, while the Nasdaq 100 gained 0.9% as crude oil prices fell. The Fed is expected to raise interest rates by 25 basis points. Retail sales and import prices exceeded expectations. Energy stocks declined, while tech and semiconductor sectors led gains. Forgent Power Solutions (FPS) surged 11.6% on strong earnings, while J.B. Hunt (JBHT) dropped 12.5% on earnings guidance.

Occidental Petroleum (OXY) shares fell 5.4% to $60.08 despite price target increases from UBS, Wells Fargo, and Evercore ISI Group. UBS raised its target to $67, Wells Fargo to $82, and Evercore ISI to $70, averaging $73. The decline may reflect broader market forces outweighing analyst optimism.

SK Hynix and Intel shares rose over 2.5% after reports of potential U.S. memory chip manufacturing talks, though SK Hynix noted no decisions were made. J.B. Hunt shares dropped 11% due to expected Q3 earnings decline. Expedia fell 2.5% after a Morgan Stanley downgrade. Energy stocks declined with U.S. oil prices. Paychex and Union Pacific rose following analyst upgrades.

U.S. gas prices rose 3.8% last week, with Regular at $4.37/gallon. The increase, driven by Middle East supply disruptions, caused oil stocks to fall. XOM, CVX, COP, EOG, OXY, BP, and SLB all declined, with EOG and OXY down 4.25%. Analysts favor CVX, COP, and SLB, with SLB having the highest upside potential at 19.56%.

Wall Street stocks declined ahead of the Fed's expected rate hike, with oil prices rising and bond yields increasing. Bitcoin fell after US senators blocked crypto legislation. ExxonMobil, Chevron, and Occidental Petroleum gained, while Coinbase and Robinhood weakened. Nvidia and Intel rallied on AI safety collaboration news. Brent crude oil futures rose 2.9% to $108.69 a barrel, and the US 10-year Treasury yield hit 5.04%.

Occidental Petroleum (OXY) stock rose 14% after Q2 earnings beat estimates, trading at $61.35. ConocoPhillips (COP) reported $19.52B revenue, up 32.4% YoY, with stock up 19.6% to $137.64. ExxonMobil (XOM) saw $116B revenue, up 42.3% YoY, with stock up 5.9% to $166.17. Devon Energy (DVN) reported $6.89B revenue, up 67.4% YoY, with stock up 14.2% to $50.30.

Wells Fargo raised its price target for Occidental (OXY) to $82 from $79, maintaining an Overweight rating. The firm cited investor meetings with CEO Jackson and CFO Mathew, noting the company's focus on de-risking preferred redemption and productivity improvements.

UBS maintained a Neutral rating on Occidental Petroleum (OXY) but raised its price target to $67.00 from $59.00. OXY is currently trading at $61.78, which is 20.1% above its GF Value™ of $51.42, according to GuruFocus. The company has a GF Score™ of 63/100, indicating moderate overall performance. Insider buying totaled $249,853 over the past three months.

Evercore ISI raised its price target for Occidental Petroleum (OXY) to $70 from $65, citing management's plan to increase cash flow and reduce debt. Shares are up 45% since January, driven by higher crude oil prices. The company aims to cut debt to $10 billion, which could trigger share buybacks. OXY trades at a discount to peers due to its leverage, and its valuation is sensitive to oil price fluctuations.

Occidental Petroleum (OXY) stock rose 1.8% this week, with Q2 revenue up 57% YoY to $8.3B and EPS beating estimates. New CEO Richard Jackson aims for $4B annual cash flow by 2030 without increasing production. The stock has a $64 target price, implying 3.8% upside over 2.3 years, trading below peers like ConocoPhillips (COP) and Chevron (CVX).