Occidental Petroleum (NYSE:OXY) Stock Rating Upgraded by TD Cowen

Key Points

• TD Cowen upgraded Occidental Petroleum to a "hold" and the stock's consensus remains a Hold (7 Buys, 11 Holds, 5 Sells) with an average price target of $47.48.
• Occidental most recently reported EPS of $0.64, beating the $0.48 estimate while revenue of $6.62 billion slightly missed estimates and was down 6.1% year-over-year.
• Director William R. Klesse purchased 5,000 shares at ~$38.98, insiders own 0.49% of the stock, and institutional investors hold about 88.7% of Occidental's shares.

Occidental Petroleum (NYSE:OXY - Get Free Report) was upgraded by equities research analysts at TD Cowen to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on OXY. Susquehanna dropped their price objective on Occidental Petroleum from $55.00 to $51.00 and set a "positive" rating for the company in a research note on Monday, January 26th. The Goldman Sachs Group reduced their price objective on shares of Occidental Petroleum from $43.00 to $41.00 and set a "sell" rating for the company in a research report on Thursday, January 22nd. Citigroup lowered their price objective on shares of Occidental Petroleum from $49.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 19th. UBS Group decreased their price target on shares of Occidental Petroleum from $45.00 to $43.00 and set a "neutral" rating on the stock in a research note on Friday, December 12th. Finally, Piper Sandler increased their price objective on shares of Occidental Petroleum from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Wednesday, January 28th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, Occidental Petroleum has an average rating of "Hold" and an average price target of $47.48.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $46.69 on Monday. The firm has a market capitalization of $46.00 billion, a P/E ratio of 34.33 and a beta of 0.41. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average price of $42.45 and a 200 day moving average price of $43.42. Occidental Petroleum has a 52 week low of $34.78 and a 52 week high of $52.58.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping the consensus estimate of $0.48 by $0.16. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The business's quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS. Sell-side analysts expect that Occidental Petroleum will post 3.58 EPS for the current year.

Insider Activity at Occidental Petroleum

In related news, Director William R. Klesse bought 5,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were acquired at an average cost of $38.98 per share, with a total value of $194,900.00. Following the completion of the purchase, the director directly owned 218,913 shares of the company's stock, valued at $8,533,228.74. This trade represents a 2.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OXY. University of Texas Texas AM Investment Management Co. purchased a new position in Occidental Petroleum in the second quarter valued at about $27,000. Activest Wealth Management lifted its holdings in shares of Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer's stock worth $31,000 after acquiring an additional 305 shares during the period. City Holding Co. grew its holdings in shares of Occidental Petroleum by 250.0% in the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer's stock valued at $33,000 after buying an additional 500 shares during the period. Binnacle Investments Inc bought a new stake in shares of Occidental Petroleum in the third quarter valued at about $35,000. Finally, Hantz Financial Services Inc. boosted its position in Occidental Petroleum by 1,193.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer's stock worth $36,000 after acquiring an additional 788 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

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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