Susquehanna Has Lowered Expectations for Occidental Petroleum (NYSE:OXY) Stock Price

Occidental Petroleum (NYSE:OXY) had its price objective reduced by Susquehanna from $55.00 to $51.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas producer’s stock. Susquehanna’s target price would indicate a potential upside of 14.37% from the company’s previous close.

OXY has been the topic of several other reports. Evercore ISI reduced their price objective on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating on the stock in a research note on Friday, October 3rd. Piper Sandler dropped their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Tuesday, November 18th. HSBC decreased their price target on shares of Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Wednesday, November 12th. Scotiabank dropped their price objective on shares of Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating for the company in a research note on Friday, January 16th. Finally, Wells Fargo & Company cut their target price on shares of Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $47.38.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $44.59 on Monday. Occidental Petroleum has a 1 year low of $34.78 and a 1 year high of $52.58. The stock has a market capitalization of $43.93 billion, a price-to-earnings ratio of 32.79 and a beta of 0.38. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.71. The company’s 50 day simple moving average is $41.75 and its 200 day simple moving average is $43.31.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The firm had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, research analysts predict that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Insider Transactions at Occidental Petroleum

In related news, Director William R. Klesse bought 5,000 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were purchased at an average cost of $38.98 per share, with a total value of $194,900.00. Following the acquisition, the director owned 218,913 shares of the company’s stock, valued at $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC increased its holdings in Occidental Petroleum by 77.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 139,086 shares of the oil and gas producer’s stock worth $5,843,000 after purchasing an additional 60,793 shares in the last quarter. Tevis Investment Management bought a new position in shares of Occidental Petroleum during the 2nd quarter worth approximately $356,000. Swedbank AB acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $35,517,000. Nordea Investment Management AB increased its stake in shares of Occidental Petroleum by 4.9% in the 2nd quarter. Nordea Investment Management AB now owns 459,826 shares of the oil and gas producer’s stock valued at $19,446,000 after acquiring an additional 21,393 shares in the last quarter. Finally, Aberdeen Group plc lifted its position in shares of Occidental Petroleum by 4.4% during the 2nd quarter. Aberdeen Group plc now owns 731,158 shares of the oil and gas producer’s stock valued at $30,716,000 after acquiring an additional 30,746 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.