Occidental Petroleum (NYSE:OXY) PT Raised to $81.00

Occidental Petroleum (NYSE:OXY) had its target price hoisted by Susquehanna from $70.00 to $81.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “positive” rating on the oil and gas producer’s stock. Susquehanna’s target price would suggest a potential upside of 20.20% from the stock’s previous close.

A number of other equities analysts also recently commented on OXY. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $63.00 to $90.00 in a research report on Thursday, April 11th. Wells Fargo & Company upped their price objective on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Stephens restated an “overweight” rating and set a $74.00 price objective on shares of Occidental Petroleum in a research report on Thursday, February 15th. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Finally, HSBC began coverage on shares of Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Stock Up 0.6 %

OXY stock opened at $67.39 on Monday. The company has a fifty day moving average price of $63.77 and a 200 day moving average price of $61.25. Occidental Petroleum has a 12 month low of $55.12 and a 12 month high of $71.18. The company has a market cap of $59.74 billion, a price-to-earnings ratio of 17.24 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The company 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%. Occidental Petroleum’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 EPS. Sell-side analysts expect that Occidental Petroleum will post 3.82 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its holdings in Occidental Petroleum by 8.6% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock valued at $10,139,000 after purchasing an additional 12,349 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in Occidental Petroleum by 8.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after purchasing an additional 474 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Occidental Petroleum in the 3rd quarter valued at about $29,665,000. Cullen Investment Group LTD. purchased a new position in Occidental Petroleum in the 4th quarter valued at about $1,006,000. Finally, Koshinski Asset Management Inc. lifted its holdings in Occidental Petroleum by 53.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock valued at $2,877,000 after purchasing an additional 16,871 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.