4 models fit Occidental Petroleum Corporation Common Stock and they disagree: 0 of 4 land within 15% of the average.
Two or more of our models back this value.
Near fair value(i)Silver76
Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, Discounted cash flow, and Graham number.
ACCE opinionOccidental Petroleum Corporation Common Stock (OXY)
Fair value (4 models)
$59.49
ACCE price target
$64.00
Rating
Fairly valued
Horizon
12 months
Fair value published on 20 Oct 2026, 16:04 CEST; previously $60.28 since 11 Oct 2026, 00:00 CEST.
ACCE price target published on 18 Oct 2026, 01:52 CEST; previously $63.00 since 20 Sept 2026, 00:00 CEST.
Rating published on 20 Oct 2026, 16:04 CEST.
Price used: $64.17 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, P/E comparison, EV/EBITDA comparison, and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
7.9% above
-7.3% to fair value
ACCE score
87
out of 100
Analysts
41% buy
27 covering
P/E
18.2x
forward 12.8x
1-year return
+49.7%
Dividend yield
1.79%
Occidental Petroleum Corporation Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Occidental Petroleum operates integrated oil and gas production across the Permian Basin, Middle East, and Africa, with a 2024 production base of roughly 1.2 million barrels of oil equivalent per day. The company benefits from low-cost Permian acreage that generates cash even at $50 oil, combined with a fortress balance sheet that has reduced net debt by over $10 billion since 2022. Near-term upside hinges on continued Permian volume growth and the potential for higher realizations if geopolitical tensions sustain elevated crude prices. Trading at 14.7x forward earnings with a 73% gross margin and 45% operating margin, OXY offers cash generation visibility at current commodity levels while maintaining optionality on capital allocation. The forward multiple sits well below historical averages despite a cleaner balance sheet and higher returns on equity than peers, suggesting the market has not fully repriced the combination of production growth and financial discipline.