Occidental Petroleum Corporation (NYSE:OXY)‘s stock had its “hold” rating reaffirmed by Scotiabank in a research report issued to clients and investors on Wednesday. They presently have a $64.00 price objective on the oil and gas producer’s stock. Scotiabank’s target price would suggest a potential downside of 5.72% from the stock’s current price.

OXY has been the subject of a number of other research reports. Barclays PLC raised their price objective on shares of Occidental Petroleum Corporation from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Monday. Cowen and Company restated a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum Corporation in a research report on Thursday, September 28th. BMO Capital Markets set a $60.00 price objective on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, October 10th. Mizuho restated a “hold” rating and issued a $64.00 price objective on shares of Occidental Petroleum Corporation in a research report on Friday, November 3rd. Finally, Jefferies Group LLC set a $64.00 price objective on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Saturday, July 29th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $66.80.

Shares of Occidental Petroleum Corporation (NYSE:OXY) traded up $0.07 on Wednesday, hitting $67.88. 2,972,600 shares of the stock traded hands, compared to its average volume of 4,513,300. Occidental Petroleum Corporation has a twelve month low of $57.20 and a twelve month high of $73.51. The firm has a market capitalization of $51,891.29, a P/E ratio of 193.74, a price-to-earnings-growth ratio of 14.44 and a beta of 0.63. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. Occidental Petroleum Corporation had a net margin of 4.33% and a return on equity of 1.31%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. sell-side analysts forecast that Occidental Petroleum Corporation will post 0.72 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new position in shares of Occidental Petroleum Corporation during the 3rd quarter worth approximately $1,426,000. Optimum Investment Advisors purchased a new stake in shares of Occidental Petroleum Corporation during the third quarter worth about $200,000. Public Employees Retirement System of Ohio grew its position in shares of Occidental Petroleum Corporation by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 530,472 shares of the oil and gas producer’s stock worth $34,062,000 after purchasing an additional 2,497 shares in the last quarter. Wealthsource Partners LLC purchased a new stake in shares of Occidental Petroleum Corporation during the third quarter worth about $208,000. Finally, Cetera Advisor Networks LLC grew its position in shares of Occidental Petroleum Corporation by 10.4% during the third quarter. Cetera Advisor Networks LLC now owns 8,878 shares of the oil and gas producer’s stock worth $570,000 after purchasing an additional 835 shares in the last quarter. 80.82% 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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