Occidental Petroleum Corporation (NYSE:OXY) has been given a $38.00 price target by research analysts at Barclays PLC in a research note issued on Friday. The brokerage presently has a “sell” rating on the oil and gas producer’s stock. Barclays PLC’s price objective suggests a potential downside of 38.80% from the company’s current price.

Several other research analysts have also issued reports on the stock. Jefferies Group LLC restated a “hold” rating and set a $70.00 price target on shares of Occidental Petroleum Corporation in a report on Monday, May 15th. Credit Suisse Group restated a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum Corporation in a report on Friday, May 19th. Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Wolfe Research upgraded shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Finally, Bank of America Corporation restated a “buy” rating and set a $80.00 price target (down previously from $83.00) on shares of Occidental Petroleum Corporation in a report on Thursday, May 11th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $66.38.

Shares of Occidental Petroleum Corporation (OXY) opened at 62.09 on Friday. The firm has a market cap of $47.70 billion, a PE ratio of 428.21 and a beta of 0.65. The stock’s 50 day moving average is $60.32 and its 200 day moving average is $62.88. Occidental Petroleum Corporation has a 12 month low of $57.20 and a 12 month high of $78.48.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The firm’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.18) EPS. Analysts forecast that Occidental Petroleum Corporation will post $0.67 EPS for the current fiscal year.

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In related news, Director Stephen I. Chazen sold 4,000 shares of Occidental Petroleum Corporation stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $60.53, for a total value of $242,120.00. Following the completion of the sale, the director now owns 1,460,619 shares of the company’s stock, valued at approximately $88,411,268.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Cedric W. Burgher purchased 1,700 shares of Occidental Petroleum Corporation stock in a transaction that occurred on Wednesday, June 7th. The stock was acquired at an average cost of $59.85 per share, with a total value of $101,745.00. Following the transaction, the chief financial officer now owns 44,124 shares in the company, valued at approximately $2,640,821.40. The disclosure for this purchase can be found here. Company insiders own 0.32% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd acquired a new stake in Occidental Petroleum Corporation during the fourth quarter valued at about $256,000. Chevy Chase Trust Holdings Inc. increased its stake in Occidental Petroleum Corporation by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 663,764 shares of the oil and gas producer’s stock valued at $42,055,000 after buying an additional 19,854 shares during the last quarter. Confluence Investment Management LLC increased its stake in Occidental Petroleum Corporation by 13.6% in the first quarter. Confluence Investment Management LLC now owns 169,470 shares of the oil and gas producer’s stock valued at $10,738,000 after buying an additional 20,348 shares during the last quarter. Raymond James Trust N.A. increased its stake in Occidental Petroleum Corporation by 14.4% in the first quarter. Raymond James Trust N.A. now owns 109,530 shares of the oil and gas producer’s stock valued at $6,940,000 after buying an additional 13,819 shares during the last quarter. Finally, Cable Hill Partners LLC increased its stake in Occidental Petroleum Corporation by 24.9% in the first quarter. Cable Hill Partners LLC now owns 4,605 shares of the oil and gas producer’s stock valued at $292,000 after buying an additional 917 shares during the last quarter. 81.55% of the stock is owned by institutional investors and hedge funds.

About Occidental Petroleum Corporation

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Occidental Petroleum Corporation (NYSE:OXY)

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