Citigroup Issues Positive Forecast for Occidental Petroleum (NYSE:OXY) Stock Price

Occidental Petroleum (NYSE:OXY - Get Free Report) had its target price hoisted by stock analysts at Citigroup from $42.00 to $44.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. Citigroup's price objective suggests a potential upside of 6.54% from the company's current price.

A number of other analysts also recently issued reports on the company. Stephens dropped their price target on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Susquehanna dropped their target price on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Mizuho cut their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price objective on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Hsbc Global Res upgraded shares of Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $53.14.

Occidental Petroleum Price Performance

NYSE OXY traded up $0.22 on Monday, hitting $41.30. The stock had a trading volume of 6,481,092 shares, compared to its average volume of 11,205,335. The firm has a 50-day moving average of $42.31 and a 200-day moving average of $46.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum has a 52-week low of $34.79 and a 52-week high of $64.76. The company has a market capitalization of $40.64 billion, a price-to-earnings ratio of 16.93 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter last year, the business posted $0.63 earnings per share. The firm's revenue was up 13.9% compared to the same quarter last year. Equities analysts expect that Occidental Petroleum will post 3.58 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OXY. Park Avenue Securities LLC lifted its holdings in Occidental Petroleum by 3.2% in the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock worth $398,000 after buying an additional 250 shares during the period. Wealthcare Advisory Partners LLC boosted its position in shares of Occidental Petroleum by 72.7% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,886 shares of the oil and gas producer's stock valued at $538,000 after purchasing an additional 4,581 shares in the last quarter. Merit Financial Group LLC raised its holdings in Occidental Petroleum by 56.0% in the fourth quarter. Merit Financial Group LLC now owns 7,984 shares of the oil and gas producer's stock worth $394,000 after purchasing an additional 2,865 shares in the last quarter. HB Wealth Management LLC lifted its position in Occidental Petroleum by 30.5% during the fourth quarter. HB Wealth Management LLC now owns 22,660 shares of the oil and gas producer's stock valued at $1,120,000 after buying an additional 5,290 shares during the period. Finally, Ameritas Advisory Services LLC grew its position in shares of Occidental Petroleum by 31.8% in the 4th quarter. Ameritas Advisory Services LLC now owns 7,517 shares of the oil and gas producer's stock worth $371,000 after buying an additional 1,814 shares during the period. 88.70% of the stock is currently owned by institutional investors.

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.