Occidental Petroleum shares rose about 1% to $55.93 in premarket trading after Goldman Sachs upgraded the stock to Buy from Neutral and raised its price target to $69 from $63. The revised target implies roughly 25% potential upside. Analyst Neil Mehta cited Occidental’s enhanced oil recovery technologies, debt-reduction strategy, capital-efficiency efforts and a plan to improve cash flow by $4 billion through 2030. The call came about four months after Richard Jackson became chief executive, succeeding Vicki Hollub on June 1. OXY shares have gained 35% in 2026, while Brent crude rose 2% to $100.08 a barrel amid concern over stalled diplomatic negotiations between the United States and Iran. Occidental trades at about nine times projected 2026 earnings. Its adjusted second-quarter earnings of $2.40 per share, revenue of $8.33 billion and free cash flow of $3.0 billion exceeded analyst expectations. Wells Fargo raised its price target to $82 from $79 while maintaining an Overweight rating.