Occidental Petroleum (NYSE:OXY) PT Raised to $71.00 at Susquehanna

Occidental Petroleum (NYSE:OXYGet Rating) had its price target upped by equities research analysts at Susquehanna from $58.00 to $71.00 in a research note issued on Monday, The Fly reports. Susquehanna’s price objective suggests a potential upside of 25.40% from the stock’s current price.

Other analysts have also issued research reports about the company. Bank of America lowered Occidental Petroleum from a “buy” rating to a “neutral” rating and increased their price objective for the company from $65.00 to $80.00 in a research note on Tuesday, March 8th. Citigroup increased their price objective on Occidental Petroleum from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, January 25th. Morgan Stanley increased their price objective on Occidental Petroleum from $52.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday. Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $46.00 target price for the company in a report on Tuesday, February 8th. Finally, TheStreet upgraded Occidental Petroleum from a “c” rating to a “b-” rating in a report on Thursday, February 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Buy” and an average price target of $60.16.

Shares of OXY opened at $56.62 on Monday. The firm has a market cap of $53.05 billion, a P/E ratio of 36.30, a P/E/G ratio of 0.20 and a beta of 2.06. The stock has a 50 day simple moving average of $53.58 and a two-hundred day simple moving average of $40.31. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.23 and a quick ratio of 1.00. Occidental Petroleum has a 1 year low of $21.62 and a 1 year high of $63.56.

Occidental Petroleum (NYSE:OXYGet Rating) last issued its earnings results on Thursday, February 24th. The oil and gas producer reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.40. The business had revenue of $7.91 billion during the quarter, compared to analyst estimates of $7.39 billion. Occidental Petroleum had a return on equity of 31.13% and a net margin of 8.82%. Occidental Petroleum’s revenue for the quarter was up 136.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.78) earnings per share. On average, equities analysts anticipate that Occidental Petroleum will post 8.68 earnings per share for the current year.

In other Occidental Petroleum news, CEO Vicki A. Hollub purchased 14,191 shares of the stock in a transaction that occurred on Monday, March 28th. The stock was purchased at an average price of $56.24 per share, with a total value of $798,101.84. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Avedick Baruyr Poladian sold 20,000 shares of the stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $57.23, for a total transaction of $1,144,600.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Rosenberg Matthew Hamilton lifted its stake in shares of Occidental Petroleum by 7.1% during the first quarter. Rosenberg Matthew Hamilton now owns 5,038 shares of the oil and gas producer’s stock worth $286,000 after buying an additional 335 shares during the period. Dumont & Blake Investment Advisors LLC raised its holdings in shares of Occidental Petroleum by 4.8% during the fourth quarter. Dumont & Blake Investment Advisors LLC now owns 7,582 shares of the oil and gas producer’s stock worth $220,000 after purchasing an additional 350 shares during the last quarter. Peapack Gladstone Financial Corp raised its holdings in shares of Occidental Petroleum by 2.0% during the third quarter. Peapack Gladstone Financial Corp now owns 19,975 shares of the oil and gas producer’s stock worth $591,000 after purchasing an additional 395 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Occidental Petroleum by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 55,600 shares of the oil and gas producer’s stock valued at $1,612,000 after buying an additional 400 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. increased its holdings in Occidental Petroleum by 0.6% in the third quarter. Cornercap Investment Counsel Inc. now owns 70,457 shares of the oil and gas producer’s stock valued at $2,084,000 after buying an additional 431 shares in the last quarter. 72.01% of the stock is currently owned by institutional investors.

About Occidental Petroleum (Get Rating)

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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

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