Analysts Set Occidental Petroleum Corporation (NYSE:OXY) Price Target at $47.48

Occidental Petroleum Corporation (NYSE:OXY) has been given a consensus rating of “Hold” by the twenty-three ratings firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $47.4762.

Several research analysts have recently weighed in on OXY shares. Mizuho boosted their price target on Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Morgan Stanley decreased their target price on Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, January 23rd. BMO Capital Markets dropped their price target on shares of Occidental Petroleum from $50.00 to $48.00 and set a “market perform” rating on the stock in a report on Monday, January 12th. UBS Group reduced their price target on shares of Occidental Petroleum from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. Finally, TD Cowen raised shares of Occidental Petroleum to a “hold” rating in a report on Monday, February 9th.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $46.02 on Thursday. The firm has a market cap of $45.34 billion, a P/E ratio of 33.84 and a beta of 0.41. Occidental Petroleum has a twelve month low of $34.78 and a twelve month high of $52.58. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $42.86 and a 200 day moving average of $43.47.

Insider Activity

In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The shares were purchased at an average price of $38.98 per share, for a total transaction of $194,900.00. Following the purchase, the director directly owned 218,913 shares of the company’s stock, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Tevis Investment Management bought a new position in Occidental Petroleum in the 2nd quarter valued at $356,000. Swedbank AB purchased a new stake in shares of Occidental Petroleum during the third quarter valued at $35,517,000. Nordea Investment Management AB increased its stake in 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 worth $19,446,000 after buying an additional 21,393 shares during the period. Adams Natural Resources Fund Inc. increased its stake in Occidental Petroleum by 1,642.6% in the 2nd quarter. Adams Natural Resources Fund Inc. now owns 128,951 shares of the oil and gas producer’s stock worth $5,417,000 after buying an additional 121,551 shares during the period. Finally, Gifford Fong Associates boosted its position in Occidental Petroleum by 41.2% in the 3rd quarter. Gifford Fong Associates now owns 171,429 shares of the oil and gas producer’s stock valued at $8,100,000 after buying an additional 50,000 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.