Occidental Petroleum Corporation (OXY) PT Raised to $76.00
Occidental Petroleum Corporation (NYSE:OXY) had its target price increased by equities researchers at Bank of America Corporation from $70.00 to $76.00 in a report issued on Friday. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Bank of America Corporation’s target price would indicate a potential upside of 18.34% from the stock’s current price.
A number of other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Cowen and Company set a $75.00 price target on shares of Occidental Petroleum Corporation and gave the company a “buy” rating in a report on Wednesday, July 19th. Jefferies Group LLC set a $58.00 price target on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. BidaskClub upgraded shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, BMO Capital Markets reduced their price target on shares of Occidental Petroleum Corporation from $60.00 to $55.00 and set a “market perform” rating for the company in a report on Friday, July 14th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $65.71.
Shares of Occidental Petroleum Corporation (NYSE OXY) traded up 1.440% during trading on Friday, hitting $65.145. 906,979 shares of the company traded hands. The company has a market capitalization of $49.81 billion, a price-to-earnings ratio of 458.768 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. The company has a 50 day moving average price of $62.24 and a 200 day moving average price of $61.35.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the business posted ($0.18) EPS. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, analysts expect that Occidental Petroleum Corporation will post $0.67 earnings per share for the current year.
In other news, Director William R. Klesse acquired 10,000 shares of the business’s 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 transaction, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Empire Life Investments Inc. purchased a new stake in Occidental Petroleum Corporation during the 1st quarter worth approximately $8,743,000. Buckingham Asset Management LLC purchased a new stake in Occidental Petroleum Corporation during the 1st quarter worth approximately $261,000. Norinchukin Bank The grew its position in Occidental Petroleum Corporation by 4.3% during the 1st quarter. Norinchukin Bank The now owns 88,813 shares of the oil and gas producer’s stock worth $5,627,000 after purchasing an additional 3,661 shares during the last quarter. Sound Shore Management Inc. CT grew its position in Occidental Petroleum Corporation by 22.5% during the 1st quarter. Sound Shore Management Inc. CT now owns 3,216,111 shares of the oil and gas producer’s stock worth $203,773,000 after purchasing an additional 591,638 shares during the last quarter. Finally, Assetmark Inc. grew its position in Occidental Petroleum Corporation by 25.9% during the 1st quarter. Assetmark Inc. now owns 261,098 shares of the oil and gas producer’s stock worth $16,543,000 after purchasing an additional 53,663 shares during the last quarter. 80.59% of the stock is currently owned by hedge funds and other institutional investors.
Occidental Petroleum Corporation Company Profile
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.
Receive News & Ratings for Occidental Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.