Overview
- Occidental shares are up about 38% this year, with most of the jump in March as crude prices surged.
- UBS lifted its price target to $67 and kept a Neutral rating, noting solid operations outside Middle East disruptions.
- Wells Fargo raised its target to $72 and kept Overweight after revising its long‑term oil view to $75 Brent and $70 WTI.
- The company used $5.8 billion from the $9.7 billion OxyChem sale to cut debt to about $15 billion.
- Occidental reported an oil discovery at the Bandit prospect in the Gulf of Mexico, where it operates with a 45.375% stake alongside Chevron and Woodside.