Occidental Petroleum (NYSE:OXY) Given Hold (C-) Rating at Weiss Ratings

Key Points

• Occidental Petroleum received a "hold (C-)" rating from Weiss Ratings, while several analysts have upgraded their ratings, with HSBC and Mizuho assigning "buy" ratings and increasing target prices.
• The stock traded down 0.6%, closing at $42.60, with a market cap of $41.94 billion and a price-to-earnings ratio of 25.21.
• Despite a decrease in revenue year-over-year, Occidental's recent quarterly earnings report surpassed analyst expectations with earnings per share of $0.39.

Occidental Petroleum (NYSE:OXY - Get Free Report)'s stock had its "hold (c-)" rating reissued by research analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

Several other equities analysts have also issued reports on OXY. HSBC upgraded shares of Occidental Petroleum from a "hold" rating to a "buy" rating and boosted their target price for the company from $48.00 to $55.00 in a report on Friday, October 3rd. Mizuho upgraded shares of Occidental Petroleum from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $58.00 to $60.00 in a report on Friday, October 3rd. UBS Group dropped their target price on shares of Occidental Petroleum from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Friday, October 3rd. Melius Research assumed coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of Occidental Petroleum from $49.00 to $50.00 and gave the company a "neutral" rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $52.26.

Occidental Petroleum Trading Down 0.6%

Shares of Occidental Petroleum stock traded down $0.28 during trading on Friday, hitting $42.60. The company's stock had a trading volume of 7,206,207 shares, compared to its average volume of 13,189,452. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. Occidental Petroleum has a 52 week low of $34.78 and a 52 week high of $53.20. The stock has a market cap of $41.94 billion, a price-to-earnings ratio of 25.21 and a beta of 0.95. The stock has a 50-day moving average price of $45.21 and a two-hundred day moving average price of $43.49.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company had revenue of $6.41 billion for the quarter, compared to analysts' expectations of $6.29 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Occidental Petroleum's revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts anticipate that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors have recently made changes to their positions in the stock. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Occidental Petroleum in the 1st quarter worth about $1,274,000. Kestra Private Wealth Services LLC raised its holdings in shares of Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer's stock worth $843,000 after acquiring an additional 906 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer's stock worth $78,813,000 after acquiring an additional 140,528 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Occidental Petroleum by 77.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 139,086 shares of the oil and gas producer's stock worth $5,843,000 after acquiring an additional 60,793 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. acquired a new stake in shares of Occidental Petroleum in the 1st quarter worth about $344,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.