Occidental Petroleum (NYSE:OXY) Price Target Raised to $46.00

Key Points

• Occidental Petroleum's target price has been raised by UBS Group from $45.00 to $46.00, with a "neutral" rating that suggests a potential upside of 0.68% from the current stock price.
• The stock currently has an average rating of "Hold" from analysts, with a consensus target price of $54.70, reflecting mixed opinions on its future performance.
• In its latest quarterly earnings, Occidental reported $0.39 EPS, surpassing expectations of $0.38, although its revenue decreased by 6.1% year-over-year.

Occidental Petroleum (NYSE:OXY - Get Free Report) had its target price lifted by investment analysts at UBS Group from $45.00 to $46.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. UBS Group's price objective indicates a potential upside of 0.68% from the stock's current price.

A number of other research analysts have also recently commented on the company. Melius Research assumed coverage on Occidental Petroleum in a report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price objective on the stock. Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Melius assumed coverage on Occidental Petroleum in a report on Wednesday, August 20th. They issued a "hold" rating and a $64.00 price objective on the stock. Citigroup upped their price objective on Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. upped their price objective on Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Four investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $54.70.

Occidental Petroleum Trading Down 0.7%

OXY stock opened at $45.69 on Monday. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. Occidental Petroleum has a 12-month low of $34.78 and a 12-month high of $56.49. The stock has a market cap of $44.98 billion, a price-to-earnings ratio of 27.04 and a beta of 1.04. The business's 50-day moving average is $44.93 and its 200 day moving average is $43.79.

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

Hedge Funds Weigh In On Occidental Petroleum

Large investors have recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. acquired a new position in Occidental Petroleum in the second quarter valued at $27,000. Bernard Wealth Management Corp. purchased a new position in Occidental Petroleum during the fourth quarter worth about $32,000. Grove Bank & Trust increased its holdings in Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after buying an additional 407 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Occidental Petroleum by 1,193.9% in the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer's stock valued at $36,000 after buying an additional 788 shares in the last quarter. Finally, American National Bank & Trust purchased a new position in Occidental Petroleum in the first quarter valued at about $39,000. Hedge funds and other institutional investors 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.

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