Occidental Petroleum (OXY) Upgraded to “Hold” at ValuEngine

Occidental Petroleum (NYSE:OXY) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Friday.

Several other research analysts have also recently weighed in on the company. Mizuho set a $71.00 price objective on Occidental Petroleum and gave the stock a “hold” rating in a research report on Friday, November 24th. Scotiabank reaffirmed a “hold” rating and set a $64.00 price target on shares of Occidental Petroleum in a research report on Wednesday, November 22nd. Barclays upped their price target on Occidental Petroleum from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Monday, November 20th. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Finally, Jefferies Group upped their price target on Occidental Petroleum from $62.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. Occidental Petroleum currently has an average rating of “Hold” and an average price target of $67.27.

Occidental Petroleum (NYSE OXY) traded down $0.25 during mid-day trading on Friday, reaching $70.24. The company’s stock had a trading volume of 4,970,000 shares, compared to its average volume of 4,700,000. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.11. Occidental Petroleum has a twelve month low of $57.20 and a twelve month high of $73.51. The stock has a market capitalization of $53,550.00, a PE ratio of 201.43, a P/E/G ratio of 14.30 and a beta of 0.63.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. equities research analysts forecast that Occidental Petroleum will post 0.76 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of OXY. Bank of Nova Scotia lifted its holdings in Occidental Petroleum by 11.3% during the 1st quarter. Bank of Nova Scotia now owns 1,109,620 shares of the oil and gas producer’s stock worth $70,313,000 after purchasing an additional 112,574 shares in the last quarter. Achmea Investment Management B.V. purchased a new stake in Occidental Petroleum during the 1st quarter worth about $1,300,000. Hendley & Co. Inc. lifted its holdings in Occidental Petroleum by 2.7% during the 1st quarter. Hendley & Co. Inc. now owns 24,872 shares of the oil and gas producer’s stock worth $1,576,000 after purchasing an additional 644 shares in the last quarter. Piedmont Investment Advisors LLC lifted its holdings in Occidental Petroleum by 0.9% during the 1st quarter. Piedmont Investment Advisors LLC now owns 161,893 shares of the oil and gas producer’s stock worth $10,258,000 after purchasing an additional 1,399 shares in the last quarter. Finally, Sowell Financial Services LLC lifted its holdings in Occidental Petroleum by 1.7% during the 1st quarter. Sowell Financial Services LLC now owns 8,381 shares of the oil and gas producer’s stock worth $513,000 after purchasing an additional 142 shares in the last quarter. 80.33% of the stock is currently owned by institutional investors and hedge funds.

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Occidental Petroleum 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.

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Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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