Occidental Petroleum (NYSE:OXY – Get Free Report)’s stock had its “overweight” rating restated by research analysts at Stephens in a research report issued on Thursday, Benzinga reports. They currently have a $74.00 price target on the oil and gas producer’s stock. Stephens’ price target suggests a potential upside of 16.79% from the stock’s previous close.
OXY has been the subject of a number of other research reports. UBS Group upped their price objective on shares of Occidental Petroleum from $72.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, October 4th. Roth Mkm restated a “neutral” rating and set a $60.00 price objective on shares of Occidental Petroleum in a report on Tuesday, September 12th. Susquehanna reduced their target price on Occidental Petroleum from $75.00 to $72.00 and set a “positive” rating on the stock in a report on Friday, July 21st. Morgan Stanley increased their target price on Occidental Petroleum from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, August 18th. Finally, Citigroup upped their target price on shares of Occidental Petroleum from $62.00 to $66.00 in a research report on Wednesday, September 20th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $70.41.
Occidental Petroleum Stock Up 0.0 %
Shares of NYSE OXY traded up $0.01 during midday trading on Thursday, hitting $63.36. The company’s stock had a trading volume of 2,177,103 shares, compared to its average volume of 11,212,294. Occidental Petroleum has a 1 year low of $55.51 and a 1 year high of $76.11. The firm has a market capitalization of $56.05 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 0.72 and a beta of 1.73. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.73. The business’s fifty day simple moving average is $63.79 and its two-hundred day simple moving average is $61.49.
Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). Occidental Petroleum had a return on equity of 31.59% and a net margin of 21.36%. The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.92 billion. During the same quarter last year, the business posted $3.16 earnings per share. The business’s revenue was down 37.3% on a year-over-year basis. On average, equities analysts predict that Occidental Petroleum will post 4.03 EPS for the current year.
Insider Activity
In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $25.00, for a total value of $127,500,000.00. Following the sale, the insider now owns 185,181,578 shares in the company, valued at $4,629,539,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is owned by corporate insiders.
Institutional Trading of Occidental Petroleum
Several large investors have recently modified their holdings of OXY. Berkshire Hathaway Inc raised its position in Occidental Petroleum by 5.9% in the second quarter. Berkshire Hathaway Inc now owns 224,129,192 shares of the oil and gas producer’s stock valued at $13,178,796,000 after purchasing an additional 12,422,073 shares during the last quarter. Geode Capital Management LLC lifted its stake in Occidental Petroleum by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 13,090,043 shares of the oil and gas producer’s stock valued at $767,346,000 after acquiring an additional 50,848 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Occidental Petroleum by 26.0% during the second quarter. Bank of New York Mellon Corp now owns 9,687,278 shares of the oil and gas producer’s stock valued at $569,612,000 after acquiring an additional 1,998,851 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Occidental Petroleum by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,035,799 shares of the oil and gas producer’s stock worth $285,732,000 after purchasing an additional 118,928 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC bought a new stake in Occidental Petroleum in the 4th quarter valued at about $267,173,000. 77.54% of the stock is owned by institutional investors and hedge funds.
About Occidental Petroleum
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.