Occidental Petroleum (NYSE:OXY) Price Target Cut to $77.00

Occidental Petroleum (NYSE:OXY) had its price objective lowered by equities researchers at Susquehanna from $78.00 to $77.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas producer’s stock. Susquehanna’s target price would suggest a potential upside of 49.05% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Barclays lowered their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Bank of America started coverage on Occidental Petroleum in a research note on Thursday. They issued a “neutral” rating and a $57.00 price objective on the stock. Scotiabank decreased their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho dropped their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Stephens restated an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $65.72.

Occidental Petroleum Stock Down 0.1 %

Shares of Occidental Petroleum stock opened at $51.66 on Friday. Occidental Petroleum has a 1-year low of $49.75 and a 1-year high of $71.18. The company has a market capitalization of $45.80 billion, a P/E ratio of 14.11 and a beta of 1.57. The business’s fifty day moving average price is $54.08 and its two-hundred day moving average price is $59.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.68 earnings per share. As a group, research analysts forecast that Occidental Petroleum will post 3.48 EPS for the current year.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

A number of institutional investors have recently bought and sold shares of the company. OLD National Bancorp IN lifted its holdings in shares of Occidental Petroleum by 4.7% during the 3rd quarter. OLD National Bancorp IN now owns 6,209 shares of the oil and gas producer’s stock valued at $320,000 after buying an additional 280 shares during the last quarter. Hardin Capital Partners LLC raised its position in Occidental Petroleum by 50.6% during the third quarter. Hardin Capital Partners LLC now owns 16,211 shares of the oil and gas producer’s stock valued at $881,000 after acquiring an additional 5,446 shares in the last quarter. Wealth Alliance Advisory Group LLC lifted its stake in Occidental Petroleum by 2.2% in the third quarter. Wealth Alliance Advisory Group LLC now owns 9,191 shares of the oil and gas producer’s stock valued at $474,000 after acquiring an additional 200 shares during the last quarter. Capital Investment Advisors LLC grew its position in Occidental Petroleum by 44.7% in the third quarter. Capital Investment Advisors LLC now owns 7,955 shares of the oil and gas producer’s stock worth $410,000 after acquiring an additional 2,456 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC increased its stake in shares of Occidental Petroleum by 20.1% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 8,140 shares of the oil and gas producer’s stock worth $421,000 after purchasing an additional 1,364 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.