Occidental Petroleum Co. (NYSE:OXY) Receives $65.72 Consensus PT from Analysts

Shares of Occidental Petroleum Co. (NYSE:OXY) have been assigned a consensus rating of “Hold” from the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $65.72.

A number of research firms recently commented on OXY. UBS Group cut their price objective on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Scotiabank cut their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Evercore ISI cut their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company dropped their price target on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Finally, Truist Financial dropped their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $50.13 on Friday. The stock has a market cap of $45.40 billion, a P/E ratio of 12.35 and a beta of 1.57. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The stock’s 50-day moving average is $52.97 and its 200-day moving average is $58.77. Occidental Petroleum has a 1-year low of $49.66 and a 1-year high of $71.18.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The company had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. Equities research analysts anticipate that Occidental Petroleum will post 3.31 earnings per share for the current year.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors have recently bought and sold shares of the stock. Czech National Bank grew its holdings in Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after buying an additional 10,456 shares in the last quarter. Discovery Capital Management LLC CT bought a new position in Occidental Petroleum in the 2nd quarter valued at $10,331,000. Empyrean Capital Partners LP bought a new position in Occidental Petroleum in the 2nd quarter valued at $2,975,000. Swedbank AB bought a new position in Occidental Petroleum in the 1st quarter valued at $12,547,000. Finally, Royal Fund Management LLC grew its stake in Occidental Petroleum by 124.2% in the 3rd quarter. Royal Fund Management LLC now owns 57,416 shares of the oil and gas producer’s stock valued at $2,959,000 after purchasing an additional 31,809 shares during the period. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

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.