Occidental Petroleum Corporation (NYSE:OXY) had its price target hoisted by analysts at Barclays PLC from $38.00 to $40.00 in a research note issued on Wednesday. The firm currently has an “underweight” rating on the oil and gas producer’s stock. Barclays PLC’s price target indicates a potential downside of 37.98% from the stock’s previous close.

Several other analysts have also issued reports on OXY. BMO Capital Markets set a $60.00 target price on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday. Jefferies Group LLC reiterated a “hold” rating and issued a $58.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, October 6th. Cowen and Company reiterated a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum Corporation in a research report on Thursday, September 28th. Scotiabank reiterated a “hold” rating and issued a $60.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, June 30th. Finally, Wolfe Research upgraded shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $66.00.

Shares of Occidental Petroleum Corporation (OXY) traded down 0.1617% during mid-day trading on Wednesday, hitting $64.3957. 1,464,598 shares of the company were exchanged. The company has a 50 day moving average of $61.96 and a 200 day moving average of $61.31. The company has a market capitalization of $49.24 billion, a P/E ratio of 429.3046 and a beta of 0.67. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $75.60.

Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.03. The company 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% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) earnings per share. Equities analysts anticipate that Occidental Petroleum Corporation will post $0.65 earnings per share for the current year.

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In related news, Director William R. Klesse bought 10,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were purchased at an average price of $61.58 per share, with a total value of $615,800.00. Following the completion of the acquisition, the director now owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.32% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Grove Bank & Trust raised its stake in Occidental Petroleum Corporation by 54.8% during the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after purchasing an additional 622 shares in the last quarter. Oakworth Capital Inc. raised its stake in Occidental Petroleum Corporation by 14.7% during the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after purchasing an additional 250 shares in the last quarter. Parallel Advisors LLC raised its stake in Occidental Petroleum Corporation by 15.6% during the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after purchasing an additional 264 shares in the last quarter. FNY Partners Fund LP purchased a new stake in Occidental Petroleum Corporation during the first quarter valued at $126,000. Finally, Farmers National Bank purchased a new stake in Occidental Petroleum Corporation during the first quarter valued at $147,000. 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.

Analyst Recommendations for Occidental Petroleum Corporation (NYSE:OXY)

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