Occidental Petroleum Corporation (OXY) Given a $60.00 Price Target at BMO Capital Markets
Occidental Petroleum Corporation (NYSE:OXY) has been given a $60.00 price objective by equities research analysts at BMO Capital Markets in a note issued to investors on Tuesday. The firm currently has a “hold” rating on the oil and gas producer’s stock. BMO Capital Markets’ price objective suggests a potential downside of 6.98% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Jefferies Group LLC set a $58.00 price objective on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. Wolfe Research raised shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Cowen and Company set a $75.00 price objective on shares of Occidental Petroleum Corporation and gave the company a “buy” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research raised shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $65.86.
Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 64.50 on Tuesday. The company has a market capitalization of $49.31 billion, a P/E ratio of 454.23 and a beta of 0.67. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $75.60. The firm has a 50-day moving average of $61.96 and a 200-day moving average of $61.31.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The company had revenue of $3.60 billion for 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 revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.18) earnings per share. Analysts forecast that Occidental Petroleum Corporation will post $0.64 earnings per share for the current year.
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In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were purchased at an average cost of $61.58 per share, with a total value of $615,800.00. Following the completion of the purchase, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.
Several large investors have recently bought and sold shares of OXY. Lenox Wealth Advisors lifted its stake in shares of Occidental Petroleum Corporation by 5.2% in the fourth quarter. Lenox Wealth Advisors now owns 887 shares of the oil and gas producer’s stock worth $60,000 after buying an additional 44 shares in the last quarter. Kistler Tiffany Companies LLC lifted its stake in shares of Occidental Petroleum Corporation by 1.4% in the second quarter. Kistler Tiffany Companies LLC now owns 1,346 shares of the oil and gas producer’s stock worth $102,000 after buying an additional 19 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Occidental Petroleum Corporation in the first quarter worth about $102,000. Grove Bank & Trust lifted its stake in shares of Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 622 shares in the last quarter. Finally, First New York Securities LLC NY purchased a new position in shares of Occidental Petroleum Corporation in the second quarter worth about $110,000. 80.59% of the stock is currently owned by hedge funds and other institutional investors.
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.
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