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.
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.
