Occidental Petroleum (NYSE:OXY - Get Free Report) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $52.00 to $47.00 in a report released on Friday,Benzinga reports. The firm currently has a "neutral" rating on the oil and gas producer's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 11.24% from the stock's previous close.
Several other brokerages have also recently issued reports on OXY. Susquehanna dropped their target price on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a report 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 research report on Wednesday, March 26th. UBS Group decreased their target price on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Scotiabank downgraded shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price target for the company. in a report on Friday, April 11th. Finally, Raymond James cut Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the company from $81.00 to $64.00 in a report on Monday, March 10th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has an average rating of "Hold" and a consensus price target of $54.05.
Check Out Our Latest Analysis on Occidental Petroleum
Occidental Petroleum Price Performance
Shares of NYSE OXY traded up $0.81 during midday trading on Friday, hitting $42.25. The stock had a trading volume of 11,641,949 shares, compared to its average volume of 11,080,615. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a 50 day simple moving average of $42.96 and a 200-day simple moving average of $47.22. The company has a market capitalization of $39.71 billion, a PE ratio of 17.32 and a beta of 0.81. 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 the consensus estimate of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. On average, sell-side analysts expect that Occidental Petroleum will post 3.58 EPS for the current fiscal year.
Institutional Investors Weigh In On Occidental Petroleum
A number of hedge funds have recently added to or reduced their stakes in OXY. Vanguard Group Inc. lifted its holdings in shares of Occidental Petroleum by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer's stock valued at $3,960,202,000 after buying an additional 12,107,285 shares during the period. Berkshire Hathaway Inc boosted its position in shares of Occidental Petroleum by 3.5% during the 4th quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock worth $13,053,055,000 after purchasing an additional 8,896,890 shares in the last quarter. Worldquant Millennium Advisors LLC grew its stake in shares of Occidental Petroleum by 1,075.3% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer's stock worth $95,400,000 after purchasing an additional 1,766,491 shares during the period. Marshall Wace LLP increased its holdings in shares of Occidental Petroleum by 48.1% in the 4th quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer's stock valued at $203,459,000 after purchasing an additional 1,337,728 shares in the last quarter. Finally, Invesco Ltd. grew its position in Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock worth $314,133,000 after buying an additional 1,278,389 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.
About Occidental Petroleum
(
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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