Occidental Petroleum (NYSE:OXY) Stock Picked Up by Analysts at Piper Sandler

Equities researchers at Piper Sandler started coverage on shares of Occidental Petroleum (NYSE:OXY) in a research report issued on Tuesday. The firm set a “neutral” rating and a $94.00 price target on the oil and gas producer’s stock. Piper Sandler‘s target price would suggest a potential upside of 46.71% from the stock’s previous close.

A number of other research firms also recently issued reports on OXY. Truist Financial boosted their target price on shares of Occidental Petroleum from $63.00 to $64.00 and gave the company a “hold” rating in a research report on Thursday, October 15th. Evercore raised shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Wednesday, July 8th. Roth Capital upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Friday, October 16th. UBS Group boosted their target price on shares of Occidental Petroleum from $67.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 14th. Finally, The Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $63.00 to $69.00 in a research report on Thursday, October 1st. Twelve analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $68.62.

Occidental Petroleum Stock Performance

NYSE OXY opened at $64.07 on Tuesday. The company has a market capitalization of $64.05 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.74 and a beta of 0.24. The stock has a fifty day simple moving average of $59.83 and a 200 day simple moving average of $55.39. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. Occidental Petroleum has a twelve month low of $38.80 and a twelve month high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.57. The firm had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The company’s revenue was up 53.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 EPS. Sell-side analysts expect that Occidental Petroleum will post 6.84 EPS for the current year.

Institutional Investors Weigh In On Occidental Petroleum

Several institutional investors have recently bought and sold shares of OXY. Axiom Investment Management LLC purchased a new stake in Occidental Petroleum in the 1st quarter valued at $25,000. Hara Capital LLC purchased a new position in Occidental Petroleum during the 2nd quarter worth $25,000. GKV Capital Management Co. Inc. purchased a new position in Occidental Petroleum during the 1st quarter worth $26,000. Fiduciary Financial Advisors bought a new stake in shares of Occidental Petroleum in the 2nd quarter worth $31,000. Finally, Ballast Advisors LLC bought a new position in shares of Occidental Petroleum during the first quarter valued at about $39,000. Institutional investors own 88.70% of the company’s stock.

About Occidental Petroleum

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.