Occidental Petroleum Corporation (OXY) Given New $66.00 Price Target at Jefferies Group LLC
Occidental Petroleum Corporation (NYSE:OXY) had its price objective boosted by analysts at Jefferies Group LLC from $62.00 to $66.00 in a report issued on Friday. The brokerage currently has a “hold” rating on the oil and gas producer’s stock. Jefferies Group LLC’s target price indicates a potential downside of 3.31% from the company’s current price.
OXY has been the subject of several other research reports. Morgan Stanley raised their price objective on shares of Occidental Petroleum Corporation from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. BidaskClub downgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. BMO Capital Markets set a $60.00 price target on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research note on Tuesday, October 10th. Barclays PLC lifted their price target on shares of Occidental Petroleum Corporation from $38.00 to $40.00 and gave the company an “underweight” rating in a research note on Wednesday, October 11th. Finally, Wolfe Research raised shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $66.07.
Shares of Occidental Petroleum Corporation (NYSE OXY) opened at $68.26 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.11. The company has a market capitalization of $52,235.63, a PE ratio of 195.03, a PEG ratio of 14.47 and a beta of 0.63.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum Corporation had a net margin of 4.33% and a return on equity of 1.31%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.15) earnings per share. equities analysts anticipate that Occidental Petroleum Corporation will post 0.71 earnings per share for the current fiscal year.
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In other news, Director William R. Klesse purchased 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were acquired at an average cost 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Grove Bank & Trust grew its holdings in 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 purchasing an additional 622 shares during the last quarter. Oakworth Capital Inc. grew its holdings in Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after purchasing an additional 250 shares during the last quarter. Parallel Advisors LLC grew its holdings in Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $118,000 after purchasing an additional 264 shares during the last quarter. FNY Partners Fund LP purchased a new position in Occidental Petroleum Corporation in the first quarter worth $126,000. Finally, Fis Group Inc. purchased a new position in Occidental Petroleum Corporation in the third quarter worth $126,000. 80.67% of the stock is currently 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.
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