Occidental Petroleum (NYSE:OXY) Price Target Cut to $51.00 by Analysts at Morgan Stanley

Occidental Petroleum (NYSE:OXY — Get Free Report) had its price target cut by research analysts at Morgan Stanley from $52.00 to $51.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm currently has an “equal weight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective indicates a potential upside of 22.98% from the company’s previous close.

OXY has been the topic of a number of other research reports. Bank of America boosted their price objective on Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Mizuho boosted their price target on Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Susquehanna raised their price target on shares of Occidental Petroleum from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.19.

Get Our Latest Analysis on Occidental Petroleum

Occidental Petroleum Stock Up 0.6%

OXY opened at $41.47 on Thursday. The company has a market cap of $40.86 billion, a PE ratio of 24.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. Occidental Petroleum has a 1 year low of $34.78 and a 1 year high of $53.20. The firm has a 50 day moving average price of $43.34 and a 200 day moving average price of $43.75.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.16. The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.66 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. 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 business earned $1.00 earnings per share. Sell-side analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current year.

Institutional Trading of Occidental Petroleum

A number of institutional investors and hedge funds have recently modified their holdings of OXY. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at about $27,000. City Holding Co. boosted its stake in Occidental Petroleum by 250.0% in the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 500 shares during the period. Binnacle Investments Inc acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $35,000. GoalVest Advisory LLC bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth approximately $38,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Occidental Petroleum during the 1st quarter worth $39,000. 88.70% of the stock is owned by institutional investors and hedge funds.

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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