Macquarie Initiates Coverage on Occidental Petroleum (OXY)
Stock analysts at Macquarie began coverage on shares of Occidental Petroleum (NYSE:OXY) in a research report issued on Wednesday, The Fly reports. The firm set a “neutral” rating on the oil and gas producer’s stock.
Other equities research analysts have also recently issued reports about the company. Bank of America boosted their price target on Occidental Petroleum from $70.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Goldman Sachs Group upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Cowen reiterated a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum in a research note on Thursday, September 28th. Morgan Stanley boosted their price target on Occidental Petroleum from $62.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Finally, Mizuho reiterated a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum in a research note on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $67.53.
Shares of Occidental Petroleum (NYSE OXY) traded up $0.59 during trading hours on Wednesday, hitting $75.86. The stock had a trading volume of 3,103,483 shares, compared to its average volume of 3,770,000. Occidental Petroleum has a 12 month low of $57.20 and a 12 month high of $76.79. The company has a market capitalization of $58,050.00, a PE ratio of 106.85, a PEG ratio of 6.83 and a beta of 0.65. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.15) earnings per share. analysts forecast that Occidental Petroleum will post 0.8 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Lenox Wealth Advisors increased its holdings in shares of Occidental Petroleum by 5.2% during the fourth quarter. Lenox Wealth Advisors now owns 887 shares of the oil and gas producer’s stock worth $60,000 after buying an additional 44 shares in the last quarter. Kistler Tiffany Companies LLC increased its holdings in shares of Occidental Petroleum by 1.4% during the second quarter. Kistler Tiffany Companies LLC now owns 1,346 shares of the oil and gas producer’s stock worth $102,000 after buying an additional 19 shares in the last quarter. First New York Securities LLC NY acquired a new position in shares of Occidental Petroleum during the second quarter worth $110,000. LSV Asset Management acquired a new position in shares of Occidental Petroleum during the second quarter worth $111,000. Finally, Oakworth Capital Inc. increased its holdings in shares of Occidental Petroleum by 7.0% during the second quarter. Oakworth Capital Inc. now owns 1,521 shares of the oil and gas producer’s stock worth $115,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.
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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.