Occidental Petroleum (NYSE:OXY) PT Raised to $72.00

Occidental Petroleum (NYSE:OXY) had its price objective boosted by analysts at Morgan Stanley from $66.00 to $72.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the oil and gas producer’s stock. Morgan Stanley’s price target would indicate a potential upside of 10.80% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Truist Financial reduced their price objective on Occidental Petroleum from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, February 16th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Raymond James reduced their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Stephens reiterated an “overweight” rating and set a $74.00 price target on shares of Occidental Petroleum in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. reduced their price target on Occidental Petroleum from $78.00 to $73.00 and set a “neutral” rating for the company in a research report on Friday, December 8th. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.19.

Occidental Petroleum Stock Up 1.2 %

NYSE OXY traded up $0.78 during trading on Thursday, hitting $64.98. The company’s stock had a trading volume of 4,457,353 shares, compared to its average volume of 8,695,635. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. The company has a market cap of $57.60 billion, a PE ratio of 16.63 and a beta of 1.63. The business’s 50 day simple moving average is $59.84 and its 200-day simple moving average is $60.79. Occidental Petroleum has a fifty-two week low of $55.12 and a fifty-two week high of $67.67.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. On average, equities analysts anticipate that Occidental Petroleum will post 3.56 EPS for the current fiscal year.

Institutional Trading of Occidental Petroleum

Institutional investors have recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Occidental Petroleum in the third quarter valued at $26,000. Orion Capital Management LLC purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $27,000. TLW Wealth Management LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at $28,000. Grove Bank & Trust raised its holdings in shares of Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 240 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at $34,000. 88.70% of the stock is owned by institutional investors and hedge funds.

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.