Occidental Petroleum (NYSE:OXY - Get Free Report) had its price target boosted by stock analysts at JPMorgan Chase & Co. from $47.00 to $48.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas producer's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 10.21% from the stock's current price.
Other equities research analysts also recently issued reports about the company. Morgan Stanley set a $58.00 target price on Occidental Petroleum and gave the company an "overweight" rating in a report on Wednesday, March 26th. Stephens reduced their target price on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Piper Sandler reduced their target price on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. TD Cowen lowered Occidental Petroleum from a "buy" rating to a "hold" rating and dropped their price target for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. Finally, Mizuho dropped their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $53.71.
Read Our Latest Stock Analysis on Occidental Petroleum
Occidental Petroleum Price Performance
Shares of Occidental Petroleum stock traded up $0.92 during trading on Tuesday, hitting $43.55. The stock had a trading volume of 11,276,175 shares, compared to its average volume of 12,024,284. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.01 and a quick ratio of 0.79. The firm has a market cap of $42.86 billion, a P/E ratio of 17.70 and a beta of 0.84. The business has a fifty day moving average of $43.32 and a two-hundred day moving average of $45.21. Occidental Petroleum has a fifty-two week low of $34.79 and a fifty-two week high of $64.76.
Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the prior year, the business posted $0.63 earnings per share. Occidental Petroleum's revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current fiscal year.
Institutional Trading of Occidental Petroleum
A number of hedge funds have recently modified their holdings of the company. Northeast Financial Consultants Inc lifted its position in shares of Occidental Petroleum by 0.4% in the 1st quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer's stock worth $2,890,000 after acquiring an additional 242 shares during the period. Horizon Investments LLC raised its stake in Occidental Petroleum by 2.3% during the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock worth $554,000 after acquiring an additional 257 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Occidental Petroleum by 20.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock worth $81,000 after acquiring an additional 274 shares in the last quarter. S.A. Mason LLC raised its stake in Occidental Petroleum by 5.9% during the second quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer's stock worth $223,000 after acquiring an additional 295 shares in the last quarter. Finally, Moody National Bank Trust Division raised its stake in Occidental Petroleum by 2.0% during the second quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer's stock worth $644,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 88.70% of the company's stock.
Occidental Petroleum Company Profile
(
Get Free Report)
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.
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