Susquehanna Issues Pessimistic Forecast for Occidental Petroleum (NYSE:OXY) Stock Price

Key Points

• Susquehanna has reduced its price target for Occidental Petroleum from $55.00 to $54.00, suggesting a 31.63% potential upside from the current stock price.
• The consensus rating for Occidental Petroleum is currently "Hold", with a consensus price target of $52.39.
• Recent quarterly earnings showed a net margin of 8.79% and a revenue decline of 6.1% compared to last year, despite beating EPS estimates.

Occidental Petroleum (NYSE:OXY - Get Free Report) had its price objective dropped by Susquehanna from $55.00 to $54.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "positive" rating on the oil and gas producer's stock. Susquehanna's price objective indicates a potential upside of 31.63% from the company's current price.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings reissued a "hold (c-)" rating on shares of Occidental Petroleum in a research report on Wednesday, October 8th. Piper Sandler lifted their target price on Occidental Petroleum from $48.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. HSBC raised Occidental Petroleum from a "hold" rating to a "buy" rating and lifted their target price for the company from $48.00 to $55.00 in a research report on Friday, October 3rd. Wells Fargo & Company started coverage on Occidental Petroleum in a research report on Friday. They issued an "underweight" rating and a $42.00 target price on the stock. Finally, Mizuho raised Occidental Petroleum from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $58.00 to $60.00 in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $52.39.

Occidental Petroleum Stock Up 0.3%

Shares of NYSE OXY traded up $0.13 during mid-day trading on Monday, reaching $41.03. 2,664,488 shares of the company's stock were exchanged, compared to its average volume of 11,592,274. The firm has a market capitalization of $40.39 billion, a price-to-earnings ratio of 24.28 and a beta of 0.95. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $45.46 and a 200 day simple moving average of $43.39. Occidental Petroleum has a twelve month low of $34.78 and a twelve month high of $53.20.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $1.03 earnings per share. As a group, equities analysts expect that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Institutional Trading of Occidental Petroleum

Several institutional investors have recently added to or reduced their stakes in the company. Tripletail Wealth Management LLC bought a new stake in Occidental Petroleum in the 3rd quarter valued at $49,000. Oak Harvest Investment Services boosted its stake in Occidental Petroleum by 178.1% in the 3rd quarter. Oak Harvest Investment Services now owns 14,902 shares of the oil and gas producer's stock valued at $704,000 after purchasing an additional 9,544 shares during the period. Lakeshore Capital Group Inc. bought a new stake in Occidental Petroleum in the 3rd quarter valued at $206,000. Ethic Inc. boosted its stake in Occidental Petroleum by 20.3% in the 3rd quarter. Ethic Inc. now owns 22,111 shares of the oil and gas producer's stock valued at $1,045,000 after purchasing an additional 3,731 shares during the period. Finally, Encompass More Asset Management acquired a new position in Occidental Petroleum in the 3rd quarter valued at $282,000. 88.70% of the stock is currently owned by institutional investors.

About Occidental Petroleum

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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