Occidental Petroleum (NYSE:OXY - Get Free Report) had its price objective decreased by analysts at Susquehanna from $78.00 to $77.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "positive" rating on the oil and gas producer's stock. Susquehanna's price target suggests a potential upside of 48.85% from the company's current price.
OXY has been the topic of several other research reports. Wells Fargo & Company cut their target price on Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating on the stock in a research note on Friday, September 27th. Wolfe Research started coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an "outperform" rating and a $81.00 target price for the company. Mizuho dropped their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. UBS Group decreased their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a "neutral" rating for the company in a report on Wednesday, September 18th. Finally, Truist Financial dropped their target price on Occidental Petroleum from $65.00 to $56.00 and set a "hold" rating on the stock in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $65.72.
Get Our Latest Analysis on Occidental Petroleum
Occidental Petroleum stock opened at $51.73 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum has a 1 year low of $49.75 and a 1 year high of $71.18. The firm's 50-day moving average is $54.21 and its 200-day moving average is $59.96. The company has a market cap of $45.87 billion, a P/E ratio of 14.13 and a beta of 1.57.
Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.26. The company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. Occidental Petroleum's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share. On average, equities analysts expect that Occidental Petroleum will post 3.49 earnings per share for the current year.
In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of the business. Investment Research & Advisory Group Inc. boosted its holdings in Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer's stock worth $25,000 after purchasing an additional 167 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in Occidental Petroleum during the first quarter valued at approximately $44,000. LRI Investments LLC bought a new position in shares of Occidental Petroleum in the first quarter valued at approximately $44,000. Strategic Financial Concepts LLC acquired a new stake in shares of Occidental Petroleum in the second quarter worth $53,000. Finally, Riverview Trust Co bought a new stake in shares of Occidental Petroleum during the 1st quarter worth $63,000. Institutional investors and hedge funds own 88.70% of the company's stock.
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, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Occidental Petroleum, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Occidental Petroleum wasn't on the list.
While Occidental Petroleum currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.