Occidental Petroleum (NYSE:OXY) Price Target Raised to $81.00

Occidental Petroleum (NYSE:OXYGet Free Report) had its price target increased by equities research analysts at Susquehanna from $70.00 to $81.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the oil and gas producer’s stock. Susquehanna’s price objective suggests a potential upside of 21.57% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley boosted their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Raymond James dropped their price target on shares of 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. Truist Financial boosted their price target on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Stephens reaffirmed an “overweight” rating and set a $74.00 price objective on shares of Occidental Petroleum in a research report on Thursday, February 15th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $71.94.

View Our Latest Report on Occidental Petroleum

Occidental Petroleum Stock Up 0.9 %

Occidental Petroleum stock opened at $66.63 on Monday. Occidental Petroleum has a fifty-two week low of $55.12 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. The firm has a 50 day moving average price of $63.39 and a 200 day moving average price of $61.16. The company has a market capitalization of $59.07 billion, a PE ratio of 17.04 and a beta of 1.64.

Occidental Petroleum (NYSE:OXYGet Free Report) last posted its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS 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 net margin of 16.24% and a return on equity of 20.63%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.61 earnings per share. Research analysts expect that Occidental Petroleum will post 3.82 earnings per share for the current year.

Institutional Investors Weigh In On Occidental Petroleum

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Investment Research & Advisory Group Inc. increased its stake in shares of Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 167 shares during the period. Everhart Financial Group Inc. increased its stake in shares of Occidental Petroleum by 2.3% during the third quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer’s stock worth $484,000 after acquiring an additional 169 shares during the period. PFG Investments LLC increased its stake in shares of Occidental Petroleum by 2.7% during the third quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock worth $417,000 after acquiring an additional 170 shares during the period. VisionPoint Advisory Group LLC increased its stake in shares of Occidental Petroleum by 1.2% during the third quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock worth $957,000 after acquiring an additional 174 shares during the period. Finally, Lazard Asset Management LLC increased its stake in shares of Occidental Petroleum by 1.5% during the first quarter. Lazard Asset Management LLC now owns 11,920 shares of the oil and gas producer’s stock worth $676,000 after acquiring an additional 180 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Company Profile

(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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