Occidental Petroleum (NYSE:OXY) Given New $58.00 Price Target at Mizuho

Occidental Petroleum (NYSE:OXY) had its price target decreased by equities research analysts at Mizuho from $60.00 to $58.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price target indicates a potential upside of 32.30% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Piper Sandler cut their target price on Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. StockNews.com downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Citigroup decreased their target price on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Finally, Wells Fargo & Company decreased their price target on shares of Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $53.48.

Occidental Petroleum Stock Down 1.2%

OXY stock opened at $43.84 on Tuesday. Occidental Petroleum has a fifty-two week low of $34.79 and a fifty-two week high of $64.76. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The stock has a market capitalization of $43.14 billion, a price-to-earnings ratio of 17.97 and a beta of 0.81. The business’s fifty day moving average price is $42.83 and its two-hundred day moving average price is $47.10.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.13. The business had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. On average, equities analysts anticipate that Occidental Petroleum will post 3.58 earnings per share for the current year.

Hedge Funds Weigh In On Occidental Petroleum

Several large investors have recently made changes to their positions in OXY. Altshuler Shaham Ltd bought a new position in shares of Occidental Petroleum during the fourth quarter valued at $26,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum during the 4th quarter valued at about $27,000. Whipplewood Advisors LLC purchased a new position in Occidental Petroleum in the fourth quarter worth about $27,000. Bernard Wealth Management Corp. bought a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $32,000. Finally, Grove Bank & Trust grew its holdings in shares of Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 407 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.