Occidental Petroleum (NYSE:OXY) Given New $58.00 Price Target at Mizuho

Occidental Petroleum (NYSE:OXY - Get Free Report) had its target price reduced by analysts at Mizuho from $60.00 to $58.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. Mizuho's price target points to a potential upside of 31.81% from the stock's previous close.

OXY has been the subject of several other research reports. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a research note on Thursday, January 23rd. Susquehanna dropped their target price on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley set a $58.00 price objective on shares of Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Truist Financial upped their price target on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research report on Monday, January 13th. Finally, StockNews.com cut shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $53.48.

Occidental Petroleum Price Performance

Shares of NYSE OXY traded up $0.14 during trading on Tuesday, hitting $44.00. 1,782,480 shares of the company were exchanged, compared to its average volume of 11,072,572. The firm's fifty day moving average price is $42.93 and its 200 day moving average price is $47.14. The company has a market cap of $43.31 billion, a price-to-earnings ratio of 18.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum has a 1 year low of $34.79 and a 1 year 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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. The firm's quarterly 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in Occidental Petroleum by 7.1% during the third quarter. Principal Financial Group Inc. now owns 773,762 shares of the oil and gas producer's stock worth $39,880,000 after buying an additional 51,042 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Occidental Petroleum by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 77,080 shares of the oil and gas producer's stock worth $3,973,000 after buying an additional 926 shares during the last quarter. Czech National Bank lifted its holdings in Occidental Petroleum by 6.8% during the fourth quarter. Czech National Bank now owns 146,485 shares of the oil and gas producer's stock valued at $7,238,000 after purchasing an additional 9,322 shares during the last quarter. Brookstone Capital Management raised its holdings in Occidental Petroleum by 13.3% during the 4th quarter. Brookstone Capital Management now owns 11,630 shares of the oil and gas producer's stock valued at $575,000 after acquiring an additional 1,367 shares during the period. Finally, CHICAGO TRUST Co NA grew its stake in Occidental Petroleum by 21.6% during the fourth quarter. CHICAGO TRUST Co NA now owns 15,859 shares of the oil and gas producer's stock valued at $784,000 after acquiring an additional 2,812 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

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.

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