Occidental Petroleum (NYSE:OXY) Price Target Raised to $43.00 at UBS Group

Occidental Petroleum (NYSE:OXY) had its price target hoisted by UBS Group from $40.00 to $43.00 in a research report issued on Friday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price target suggests a potential upside of 1.13% from the company’s current price.

Other equities research analysts also recently issued reports about the company. ValuEngine upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Tudor Pickering upgraded Occidental Petroleum from a “sell” rating to a “hold” rating and set a $41.00 target price for the company in a research note on Friday, January 3rd. Morgan Stanley raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $51.00 to $59.00 in a research report on Monday, January 13th. Raymond James dropped their price target on shares of Occidental Petroleum from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 17th. Finally, Edward Jones raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $57.22.

Shares of Occidental Petroleum stock opened at $42.52 on Friday. Occidental Petroleum has a 1-year low of $37.25 and a 1-year high of $68.83. The company has a market capitalization of $38.67 billion, a PE ratio of 27.79, a P/E/G ratio of 5.36 and a beta of 0.88. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.33 and a quick ratio of 1.23. The business has a 50-day moving average of $41.72 and a 200-day moving average of $43.68.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.30). The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.59 billion. Occidental Petroleum had a return on equity of 9.98% and a net margin of 6.34%. The company’s revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.77 EPS. On average, equities analysts expect that Occidental Petroleum will post 1.75 earnings per share for the current fiscal year.

In other Occidental Petroleum news, Director William R. Klesse purchased 12,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $39.31 per share, with a total value of $471,720.00. Following the acquisition, the director now owns 113,203 shares of the company’s stock, valued at approximately $4,450,009.93. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William R. Klesse acquired 6,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $38.09 per share, with a total value of $228,540.00. Following the transaction, the director now owns 119,203 shares in the company, valued at $4,540,442.27. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 35,900 shares of company stock valued at $1,393,129. 0.15% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clean Yield Group bought a new position in shares of Occidental Petroleum during the third quarter valued at approximately $29,000. Hall Laurie J Trustee acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $33,000. Edge Wealth Management LLC lifted its holdings in shares of Occidental Petroleum by 93.3% in the 3rd quarter. Edge Wealth Management LLC now owns 773 shares of the oil and gas producer’s stock worth $34,000 after purchasing an additional 373 shares during the last quarter. Truewealth LLC lifted its holdings in shares of Occidental Petroleum by 52.4% in the 3rd quarter. Truewealth LLC now owns 785 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 270 shares during the last quarter. Finally, Liberty Wealth Management LLC boosted its position in Occidental Petroleum by 36.4% during the 3rd quarter. Liberty Wealth Management LLC now owns 907 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 242 shares during the period. Hedge funds and other institutional investors own 78.54% 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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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