Wall Street spent most of 2025 sour on Occidental Petroleum (OXY), but that’s changing.

Today, May 26, Barclays became the third major bank in six trading days to flip its stance on Warren Buffett‘s largest single oil holding. The firm lifted OXY to Overweight from Equalweight and raised its price target to $72 from $59, Investing.com reports.

The timing is no accident. Brent crude is hovering near $97 a barrel after the latest escalation in the Iran conflict, and analysts who had been writing off OXY’s balance sheet are suddenly writing about its cash flow.

For everyday investors, the bigger question is whether the rally has room to run or if the easy money has already been made.