UBS Group Lowers Occidental Petroleum (NYSE:OXY) Price Target to $51.00

Occidental Petroleum (NYSE:OXY) had its target price lowered by investment analysts at UBS Group from $58.00 to $51.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price objective would suggest a potential upside of 6.14% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets reduced their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. TD Cowen reduced their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Mizuho cut their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Susquehanna cut their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Finally, Truist Financial cut their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.75.

Occidental Petroleum Stock Down 0.9 %

OXY stock opened at $48.05 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. Occidental Petroleum has a 1 year low of $47.20 and a 1 year high of $71.18. The company has a fifty day simple moving average of $51.37 and a 200 day simple moving average of $55.86. The firm has a market cap of $45.09 billion, a PE ratio of 12.51 and a beta of 1.57.

Institutional Trading of Occidental Petroleum

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC increased its stake in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum in the third quarter valued at about $32,000. LRI Investments LLC increased its stake in Occidental Petroleum by 34.6% in the second quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock valued at $57,000 after acquiring an additional 233 shares during the period. Transamerica Financial Advisors Inc. bought a new stake in Occidental Petroleum in the third quarter valued at about $50,000. Finally, Exchange Traded Concepts LLC bought a new stake in Occidental Petroleum in the third quarter valued at about $87,000. Institutional investors own 88.70% of the company’s stock.

About Occidental Petroleum

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.