Occidental Petroleum (OXY) Now Covered by Credit Suisse Group

Equities researchers at Credit Suisse Group initiated coverage on shares of Occidental Petroleum (NYSE:OXY) in a research report issued on Monday, December 11th, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $62.00 price target on the oil and gas producer’s stock. Credit Suisse Group’s target price would indicate a potential downside of 15.06% from the stock’s previous close.

A number of other brokerages have also recently commented on OXY. Zacks Investment Research raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Scotiabank reaffirmed a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. BMO Capital Markets set a $60.00 price target on Occidental Petroleum and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Jefferies Group reaffirmed a “hold” rating and issued a $58.00 price target on shares of Occidental Petroleum in a research note on Friday, October 6th. Finally, BidaskClub cut Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. Occidental Petroleum currently has an average rating of “Hold” and an average target price of $65.43.

Shares of Occidental Petroleum (OXY) traded up $0.41 during trading on Monday, reaching $72.99. The company’s stock had a trading volume of 2,409,186 shares, compared to its average volume of 4,346,425. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The stock has a market cap of $55,541.51, a PE ratio of 104.27, a P/E/G ratio of 14.45 and a beta of 0.65. Occidental Petroleum has a 1-year low of $57.20 and a 1-year high of $73.27.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.07. The business had revenue of $3 billion for 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 period in the previous year, the firm earned ($0.15) EPS. sell-side analysts forecast that Occidental Petroleum will post 0.77 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of OXY. Grove Bank & Trust boosted its holdings in Occidental Petroleum by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after acquiring an additional 622 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in Occidental Petroleum by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after acquiring an additional 250 shares in the last quarter. Fis Group Inc. bought a new stake in Occidental Petroleum in the third quarter worth $126,000. Enterprise Financial Services Corp boosted its holdings in Occidental Petroleum by 68.5% in the third quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock worth $127,000 after acquiring an additional 806 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Occidental Petroleum by 14.2% in the second quarter. Parallel Advisors LLC now owns 2,240 shares of the oil and gas producer’s stock worth $139,000 after acquiring an additional 279 shares in the last quarter. 80.17% of the stock is currently owned by institutional investors.

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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)