Occidental Petroleum (NYSE:OXY) Stock Price Expected to Rise, Susquehanna Analyst Says
Occidental Petroleum (NYSE:OXY — Get Free Report) had its price objective lifted by research analysts at Susquehanna from $51.00 to $60.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas producer’s stock. Susquehanna’s price target would indicate a potential upside of 16.36% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their target price on Occidental Petroleum from $44.00 to $42.00 and set an “underweight” rating for the company in a research note on Tuesday, January 20th. Bank of America raised their price objective on shares of Occidental Petroleum from $44.00 to $45.00 in a research report on Tuesday, January 27th. Piper Sandler upped their target price 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. Mizuho raised their price target on shares of Occidental Petroleum from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 11th. Finally, TD Cowen upgraded shares of Occidental Petroleum to a “hold” rating in a research report on Monday, February 9th. Seven equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $47.90.
Occidental Petroleum Stock Up 9.5%
OXY opened at $51.57 on Friday. Occidental Petroleum has a 12 month low of $34.78 and a 12 month high of $52.58. The company has a market cap of $50.80 billion, a PE ratio of 32.03 and a beta of 0.41. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $43.26 and a 200 day moving average of $43.57.
Occidental Petroleum (NYSE:OXY — Get Free Report) last issued its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.95%. The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, sell-side analysts expect that Occidental Petroleum will post 3.58 EPS for the current year.
Insider Transactions at Occidental Petroleum
In other news, Director William R. Klesse acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was purchased at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the acquisition, the director owned 218,913 shares of the company’s stock, valued at $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is currently owned by company insiders.
Institutional Trading of Occidental Petroleum
Hedge funds and other institutional investors have recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Occidental Petroleum during the 2nd quarter valued at $27,000. City Holding Co. grew its stake in shares of Occidental Petroleum by 250.0% during the third 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 last quarter. Caitlin John LLC purchased a new position in shares of Occidental Petroleum in the fourth quarter worth about $29,000. Activest Wealth Management lifted its stake in shares of Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares during the last quarter. Finally, Binnacle Investments Inc purchased a new stake in Occidental Petroleum during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Key Stories Impacting Occidental Petroleum
Here are the key news stories impacting Occidental Petroleum this week:
About Occidental Petroleum
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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