Occidental Petroleum (OXY) PT Raised to $84.00 at Morgan Stanley

Occidental Petroleum (NYSE:OXY) had its target price upped by investment analysts at Morgan Stanley from $66.00 to $84.00 in a research report issued on Wednesday. The brokerage presently has an “equal weight” rating on the oil and gas producer’s stock. Morgan Stanley’s price target would suggest a potential upside of 8.84% from the company’s current price.

OXY has been the subject of several other research reports. Cowen reissued a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum in a research note on Thursday, September 28th. Mizuho reissued a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum in a research note on Friday, November 3rd. Bank of America increased 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. Citigroup raised Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price target for the company in a research note on Monday, January 22nd. Finally, Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $70.07.

Shares of Occidental Petroleum (NYSE OXY) traded up $0.44 during mid-day trading on Wednesday, hitting $77.18. The stock had a trading volume of 2,205,307 shares, compared to its average volume of 3,590,000. The firm has a market capitalization of $59,060.00, a PE ratio of 108.70, a price-to-earnings-growth ratio of 5.42 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 has a 12 month low of $57.20 and a 12 month high of $78.09.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, beating the consensus estimate 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 quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. equities analysts forecast that Occidental Petroleum will post 0.83 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. Bank of Nova Scotia Trust Co. boosted its position in shares of Occidental Petroleum by 6.0% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 4,734 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 267 shares in the last quarter. Stellar Capital Management LLC boosted its position in shares of Occidental Petroleum by 1.0% during the 2nd quarter. Stellar Capital Management LLC now owns 26,568 shares of the oil and gas producer’s stock valued at $1,591,000 after purchasing an additional 270 shares in the last quarter. Westwood Holdings Group Inc. boosted its position in shares of Occidental Petroleum by 2.6% during the 2nd quarter. Westwood Holdings Group Inc. now owns 10,728 shares of the oil and gas producer’s stock valued at $642,000 after purchasing an additional 273 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Occidental Petroleum by 0.4% during the 2nd quarter. Advisor Group Inc. now owns 69,738 shares of the oil and gas producer’s stock valued at $4,164,000 after purchasing an additional 274 shares in the last quarter. Finally, Orleans Capital Management Corp LA boosted its position in shares of Occidental Petroleum by 1.3% during the 2nd quarter. Orleans Capital Management Corp LA now owns 22,594 shares of the oil and gas producer’s stock valued at $1,353,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 80.15% of the company’s stock.

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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.

Analyst Recommendations for Occidental Petroleum (NYSE:OXY)



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