Occidental Petroleum (NYSE:OXY) received a $85.00 target price from equities research analysts at Cowen in a research note issued to investors on Thursday. The firm currently has a “buy” rating on the oil and gas producer’s stock. Cowen’s price target indicates a potential upside of 12.51% from the stock’s current price.
A number of other research analysts have also issued reports on OXY. Mizuho set a $79.00 price target on Occidental Petroleum and gave the stock a “hold” rating in a research report on Tuesday. Macquarie began coverage on Occidental Petroleum in a research report on Wednesday. They set a “neutral” rating for the company. Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $85.00 price target for the company in a research report on Thursday, January 4th. Bank of America lowered Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $80.00 price target for the company. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Finally, Scotiabank reiterated a “hold” rating and set a $64.00 price target on shares of Occidental Petroleum in a research report on Wednesday, November 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $67.87.
Shares of Occidental Petroleum (NYSE OXY) traded up $0.16 during mid-day trading on Thursday, reaching $75.55. The company’s stock had a trading volume of 3,199,387 shares, compared to its average volume of 3,690,000. 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 has a one year low of $57.20 and a one year high of $76.79. The firm has a market cap of $57,810.00, a price-to-earnings ratio of 106.41, a PEG ratio of 6.39 and a beta of 0.65.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the firm posted ($0.15) EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. analysts predict that Occidental Petroleum will post 0.8 EPS for the current year.
Several institutional investors have recently made changes to their positions in OXY. Captrust Financial Advisors acquired a new stake in shares of Occidental Petroleum in the second quarter valued at $446,000. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Occidental Petroleum by 33.5% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 11,262 shares of the oil and gas producer’s stock valued at $675,000 after purchasing an additional 2,823 shares during the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Occidental Petroleum by 20.5% during the second quarter. King Luther Capital Management Corp now owns 981,093 shares of the oil and gas producer’s stock valued at $58,738,000 after purchasing an additional 167,132 shares during the last quarter. Comerica Securities Inc. lifted its holdings in shares of Occidental Petroleum by 44.1% during the second quarter. Comerica Securities Inc. now owns 19,704 shares of the oil and gas producer’s stock valued at $1,194,000 after purchasing an additional 6,028 shares during the last quarter. Finally, Nationwide Fund Advisors lifted its holdings in shares of Occidental Petroleum by 2.0% during the second quarter. Nationwide Fund Advisors now owns 760,667 shares of the oil and gas producer’s stock valued at $45,541,000 after purchasing an additional 14,749 shares during 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.