Occidental Petroleum (NYSE:OXY - Get Free Report)'s stock had its "hold (c-)" rating reiterated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.
Other research analysts also recently issued reports about the company. HSBC upgraded Occidental Petroleum from a "hold" rating to a "buy" rating and raised their price objective for the stock from $48.00 to $55.00 in a report on Friday, October 3rd. Hsbc Global Res upgraded Occidental Petroleum from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Wall Street Zen downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. raised their price objective on Occidental Petroleum from $47.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Finally, Scotiabank lifted their price target on Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $52.43.
Check Out Our Latest Stock Analysis on OXY
Occidental Petroleum Price Performance
Shares of Occidental Petroleum stock opened at $45.53 on Wednesday. The firm has a market cap of $44.82 billion, a PE ratio of 27.00 and a beta of 0.95. Occidental Petroleum has a 12 month low of $34.78 and a 12 month high of $55.24. The stock has a 50 day moving average of $45.63 and a 200 day moving average of $43.76. 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 (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, beating the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same period last year, the company earned $1.03 EPS. The company's revenue for the quarter was down 6.1% on a year-over-year basis. On average, research 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 large investors have recently made changes to their positions in the stock. Capital Investment Advisors LLC grew its position in Occidental Petroleum by 48.7% in the first quarter. Capital Investment Advisors LLC now owns 7,305 shares of the oil and gas producer's stock worth $361,000 after acquiring an additional 2,391 shares during the period. Daymark Wealth Partners LLC purchased a new position in shares of Occidental Petroleum during the first quarter worth $215,000. Pallas Capital Advisors LLC purchased a new position in shares of Occidental Petroleum during the first quarter worth $291,000. Yousif Capital Management LLC boosted its position in shares of Occidental Petroleum by 1.6% during the first quarter. Yousif Capital Management LLC now owns 89,767 shares of the oil and gas producer's stock worth $4,431,000 after buying an additional 1,447 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Occidental Petroleum by 28.4% during the first quarter. GAMMA Investing LLC now owns 6,816 shares of the oil and gas producer's stock worth $336,000 after buying an additional 1,507 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
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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