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.
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.
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.
