Occidental Petroleum (NYSE:OXY) had its target price raised by Barclays from $45.00 to $47.00 in a research note issued to investors on Monday, November 20th. The brokerage presently has an “underweight” rating on the oil and gas producer’s stock. Barclays’ target price would suggest a potential downside of 32.29% from the company’s current price.
A number of other analysts have also recently issued reports on the company. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Mizuho reissued a “hold” rating and set a $64.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 3rd. Jefferies Group boosted their price target on Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Morgan Stanley boosted their price target on Occidental Petroleum from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Finally, Bank of America boosted their price target on Occidental Petroleum from $70.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, October 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Occidental Petroleum has an average rating of “Hold” and an average price target of $67.27.
Shares of Occidental Petroleum (NYSE OXY) traded up $0.14 during midday trading on Monday, hitting $69.41. The company had a trading volume of 3,813,135 shares, compared to its average volume of 4,503,894. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm has a market cap of $53,567.18, a PE ratio of 200.00, a price-to-earnings-growth ratio of 14.20 and a beta of 0.65. Occidental Petroleum has a twelve month low of $57.20 and a twelve month high of $73.51.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company posted ($0.15) earnings per share. Occidental Petroleum’s revenue for the quarter was up 13.3% compared to the same quarter last year. sell-side analysts expect that Occidental Petroleum will post 0.76 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in OXY. Grove Bank & Trust lifted its stake in shares of Occidental Petroleum by 54.8% in the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after purchasing an additional 622 shares during the period. Oakworth Capital Inc. lifted its stake in shares of Occidental Petroleum by 14.7% in the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after purchasing an additional 250 shares during the period. Parallel Advisors LLC lifted its stake in shares of Occidental Petroleum by 15.6% in the 1st quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 264 shares during the period. Fis Group Inc. acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at $126,000. Finally, Enterprise Financial Services Corp lifted its stake in shares of Occidental Petroleum by 68.5% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock valued at $127,000 after purchasing an additional 806 shares during the period. 80.34% of the stock is currently owned by institutional investors and hedge funds.
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Occidental Petroleum Company Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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