Occidental Petroleum (NYSE:OXY) Stock Price Expected to Rise, Susquehanna Analyst Says

Key Points

• Susquehanna raised its price target on Occidental to $67 (from $60) and maintained a "positive" rating, implying roughly a 22.7% upside from the current price.
• Analyst sentiment is mixed: MarketBeat shows an average rating of "Hold" with an average target of $61.35 (1 Strong Buy, 8 Buy, 15 Hold, 2 Sell).
• Occidental beat EPS estimates with $0.31 for the quarter but missed revenue ($5.11B vs. $6.02B expected); the stock trades in the mid‑$50s with a market cap near $54 billion.

Occidental Petroleum (NYSE:OXY - Get Free Report) had its target price raised by Susquehanna from $60.00 to $67.00 in a report released on Tuesday,MarketScreener reports. The brokerage presently has a "positive" rating on the oil and gas producer's stock. Susquehanna's price target indicates a potential upside of 22.67% from the stock's current price.

OXY has been the subject of several other research reports. TD Cowen boosted their price target on shares of Occidental Petroleum from $48.00 to $54.00 and gave the stock a "hold" rating in a report on Monday, February 23rd. Barclays lifted their price objective on Occidental Petroleum from $55.00 to $59.00 and gave the stock an "equal weight" rating in a report on Monday, March 16th. Citigroup reduced their price objective on Occidental Petroleum from $67.00 to $62.00 and set a "neutral" rating for the company in a research note on Friday. HSBC boosted their price target on shares of Occidental Petroleum from $59.00 to $68.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. Finally, Jefferies Financial Group increased their price target on Occidental Petroleum from $47.00 to $58.00 and gave the company a "hold" rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and an average target price of $61.35.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $54.62 on Tuesday. The firm has a market cap of $54.16 billion, a PE ratio of 33.86 and a beta of 0.23. Occidental Petroleum has a twelve month low of $38.72 and a twelve month high of $67.45. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $55.98 and a 200 day moving average price of $47.07.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.13. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The business had revenue of $5.11 billion during the quarter, compared to analysts' expectations of $6.02 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The business's revenue was down 5.2% compared to the same quarter last year. Sell-side analysts predict that Occidental Petroleum will post 3.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Occidental Petroleum

A number of institutional investors and hedge funds have recently made changes to their positions in OXY. Louisiana State Employees Retirement System acquired a new stake in Occidental Petroleum in the 1st quarter valued at approximately $2,386,000. Trust Co. of Oklahoma acquired a new stake in Occidental Petroleum during the 1st quarter worth approximately $254,000. Fifth Third Wealth Advisors LLC raised its stake in shares of Occidental Petroleum by 17.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 7,350 shares of the oil and gas producer's stock valued at $478,000 after acquiring an additional 1,071 shares in the last quarter. Apella Capital LLC increased its holdings in Occidental Petroleum by 5.6% during the 1st quarter. Apella Capital LLC now owns 7,410 shares of the oil and gas producer's stock worth $482,000 after purchasing an additional 391 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Occidental Petroleum by 291.6% during the first quarter. Assenagon Asset Management S.A. now owns 399,157 shares of the oil and gas producer's stock worth $25,945,000 after buying an additional 297,223 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental's operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.

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