Occidental Petroleum (NYSE:OXY) Price Target Lowered to $51.00 at Susquehanna

Occidental Petroleum (NYSE:OXY) had its price objective dropped by analysts at Susquehanna from $55.00 to $51.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas producer’s stock. Susquehanna’s target price would indicate a potential upside of 16.08% from the company’s current price.

OXY has been the topic of several other reports. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 target price on shares of Occidental Petroleum in a report on Tuesday, November 25th. Wall Street Zen lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Roth Mkm increased their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, October 2nd. Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, The Goldman Sachs Group reduced their price objective on shares of Occidental Petroleum from $43.00 to $41.00 and set a “sell” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $47.38.

Occidental Petroleum Trading Down 0.4%

Occidental Petroleum stock traded down $0.17 during trading hours on Monday, hitting $43.94. The stock had a trading volume of 3,478,494 shares, compared to its average volume of 11,589,472. The business’s 50 day simple moving average is $41.66 and its 200-day simple moving average is $43.33. Occidental Petroleum has a one year low of $34.78 and a one year high of $52.58. The stock has a market cap of $43.29 billion, a price-to-earnings ratio of 32.31 and a beta of 0.38. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same period in the prior year, the company posted $1.00 EPS. The company’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts predict that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Insider Activity

In other news, Director William R. Klesse bought 5,000 shares of Occidental Petroleum stock in a transaction dated Tuesday, December 16th. The shares were bought at an average price of $38.98 per share, for a total transaction of $194,900.00. Following the purchase, the director owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. bought a new position in Occidental Petroleum in the second quarter valued at approximately $27,000. City Holding Co. increased its position in Occidental Petroleum by 250.0% during the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 500 shares during the last quarter. Binnacle Investments Inc acquired a new stake in Occidental Petroleum during the 3rd quarter valued at $35,000. Hantz Financial Services Inc. grew its stake in Occidental Petroleum by 1,193.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 788 shares during the last quarter. Finally, GoalVest Advisory LLC bought a new position in shares of Occidental Petroleum during the third quarter worth approximately $38,000. Institutional investors own 88.70% of the company’s stock.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.