Occidental Petroleum (NYSE:OXY) Price Target Cut to $46.00 by Analysts at Piper Sandler

Occidental Petroleum (NYSE:OXY) had its price objective dropped by investment analysts at Piper Sandler from $47.00 to $46.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s target price suggests a potential upside of 9.16% from the stock’s previous close.

Several other research analysts also recently commented on OXY. UBS Group decreased their target price on shares of Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. Wells Fargo & Company reduced their target price on Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating on the stock in a report on Wednesday, November 12th. Mizuho increased their target price on Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 11th. Finally, Melius Research began coverage on Occidental Petroleum in a research report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.19.

Occidental Petroleum Trading Up 1.1%

Shares of OXY traded up $0.45 during trading hours on Tuesday, hitting $42.14. The company had a trading volume of 3,504,838 shares, compared to its average volume of 11,437,147. Occidental Petroleum has a 52-week low of $34.78 and a 52-week high of $53.20. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The stock’s 50 day moving average price is $43.66 and its 200 day moving average price is $43.75. The firm has a market cap of $41.52 billion, a P/E ratio of 24.89 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period last year, the company earned $1.00 EPS. Occidental Petroleum’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, research analysts predict that Occidental Petroleum will post 3.58 EPS for the current year.

Institutional Trading of Occidental Petroleum

A number of institutional investors and hedge funds have recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Occidental Petroleum during the second quarter valued at $27,000. City Holding Co. lifted its stake in Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 500 shares during the period. Binnacle Investments Inc purchased a new stake in shares of Occidental Petroleum during the 3rd quarter valued at about $35,000. Hantz Financial Services Inc. raised its holdings in shares of Occidental Petroleum by 1,193.9% during the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 788 shares during the last quarter. Finally, GoalVest Advisory LLC purchased a new position in shares of Occidental Petroleum during the third quarter valued at approximately $38,000. 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.