Occidental Petroleum Corporation (OXY) Receives Consensus Recommendation of “Hold” from Brokerages
Occidental Petroleum Corporation (NYSE:OXY) has been assigned a consensus rating of “Hold” from the twenty analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $67.00.
A number of brokerages have commented on OXY. Bank of America downgraded shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $80.00 target price for the company. in a report on Thursday, January 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $85.00 target price for the company in a report on Thursday, January 4th. Cowen reiterated a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum in a report on Thursday, September 28th. Scotiabank reiterated a “hold” rating and issued a $64.00 target price on shares of Occidental Petroleum in a report on Wednesday, November 22nd. Finally, Mizuho set a $71.00 target price on shares of Occidental Petroleum and gave the stock a “hold” rating in a report on Friday, November 24th.
Shares of Occidental Petroleum (NYSE:OXY) opened at $76.53 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $58,564.23, a PE ratio of 109.33, a P/E/G ratio of 6.83 and a beta of 0.65. Occidental Petroleum has a fifty-two week low of $57.20 and a fifty-two week high of $76.76.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Barometer Capital Management Inc. purchased a new stake in Occidental Petroleum in the third quarter valued at approximately $12,213,000. California Public Employees Retirement System boosted its position in Occidental Petroleum by 3.3% in the third quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock valued at $131,456,000 after buying an additional 64,533 shares during the last quarter. Swiss National Bank boosted its position in Occidental Petroleum by 0.9% in the third quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock valued at $185,698,000 after buying an additional 25,100 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Occidental Petroleum in the third quarter valued at approximately $3,792,000. Finally, Cubist Systematic Strategies LLC boosted its position in Occidental Petroleum by 178.7% in the second quarter. Cubist Systematic Strategies LLC now owns 58,489 shares of the oil and gas producer’s stock valued at $3,502,000 after buying an additional 37,499 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.
About Occidental Petroleum
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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