Occidental Petroleum (NYSE:OXY) Rating Lowered to Hold at Zacks Research

Occidental Petroleum (NYSE:OXY) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently issued reports on OXY. Raymond James Financial boosted their price target on Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Roth Mkm lifted their target price on Occidental Petroleum from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Mizuho boosted their target price on shares of Occidental Petroleum from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. UBS Group decreased their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. Finally, Barclays raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $59.00 to $72.00 in a research report on Tuesday, May 26th. Nine research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.74.

Occidental Petroleum Stock Up 0.7%

Occidental Petroleum stock opened at $52.34 on Monday. The company’s 50-day moving average price is $56.70 and its two-hundred day moving average price is $51.67. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. The stock has a market cap of $52.06 billion, a P/E ratio of 13.18 and a beta of 0.14. Occidental Petroleum has a twelve month low of $38.80 and a twelve month high of $67.45.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, analysts expect that Occidental Petroleum will post 5.79 EPS for the current year.

Institutional Investors Weigh In On Occidental Petroleum

A number of large investors have recently bought and sold shares of the company. Axiom Investment Management LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at approximately $25,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $26,000. Portus Wealth Advisors LLC bought a new position in Occidental Petroleum in the first quarter valued at approximately $29,000. Ballast Advisors LLC bought a new position in Occidental Petroleum in the first quarter valued at approximately $39,000. Finally, Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the first quarter valued at approximately $42,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Company Profile

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.