Susquehanna Increases Occidental Petroleum (NYSE:OXY) Price Target to $73.00

Occidental Petroleum (NYSE:OXY – Get Rating) had its target price lifted by stock analysts at Susquehanna from $71.00 to $73.00 in a report issued on Thursday, The Fly reports. Susquehanna’s target price would suggest a potential upside of 21.46% from the stock’s previous close.

OXY has been the subject of a number of other research reports. Raymond James increased their target price on shares of Occidental Petroleum from $85.00 to $90.00 and gave the stock a “strong-buy” rating in a research report on Monday, April 25th. Piper Sandler upgraded shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $44.00 to $88.00 in a research report on Thursday, April 7th. MKM Partners raised their price objective on shares of Occidental Petroleum from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, March 1st. Truist Financial raised their price objective on shares of Occidental Petroleum from $78.00 to $86.00 in a research report on Thursday, April 21st. Finally, Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $46.00 target price on the stock in a research note on Tuesday, February 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $61.89.

Shares of OXY opened at $60.10 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.23 and a debt-to-equity ratio of 2.79. The company’s fifty day moving average is $58.01 and its 200-day moving average is $42.52. The firm has a market cap of $56.31 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 0.21 and a beta of 1.94. Occidental Petroleum has a 12 month low of $21.62 and a 12 month high of $64.98.

Occidental Petroleum (NYSE:OXY – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The oil and gas producer reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. Occidental Petroleum had a net margin of 8.82% and a return on equity of 31.13%. The business had revenue of $8.53 billion during the quarter, compared to the consensus estimate of $8.06 billion. During the same period in the prior year, the firm earned ($0.15) EPS. Occidental Petroleum’s quarterly revenue was up 61.2% compared to the same quarter last year. As a group, research analysts predict that Occidental Petroleum will post 9.29 earnings per share for the current fiscal year.

In other news, Director Avedick Baruyr Poladian sold 20,000 shares of the firm’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of $57.23, for a total value of $1,144,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vicki A. Hollub purchased 14,191 shares of the stock in a transaction on Monday, March 28th. The shares were purchased at an average cost of $56.24 per share, with a total value of $798,101.84. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. BOKF NA acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $3,035,000. Mackay Shields LLC lifted its holdings in shares of Occidental Petroleum by 2.4% in the 3rd quarter. Mackay Shields LLC now owns 135,417 shares of the oil and gas producer’s stock valued at $4,006,000 after buying an additional 3,189 shares during the period. Maverick Capital Ltd. lifted its holdings in shares of Occidental Petroleum by 1,551.4% in the 3rd quarter. Maverick Capital Ltd. now owns 68,170 shares of the oil and gas producer’s stock valued at $2,016,000 after buying an additional 64,042 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Occidental Petroleum by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,154,947 shares of the oil and gas producer’s stock valued at $323,362,000 after buying an additional 421,344 shares during the period. Finally, Kestra Advisory Services LLC increased its stake in shares of Occidental Petroleum by 23.0% in the 4th quarter. Kestra Advisory Services LLC now owns 47,838 shares of the oil and gas producer’s stock valued at $1,387,000 after purchasing an additional 8,937 shares in the last quarter. 86.15% of the stock is owned by institutional investors.

Occidental Petroleum Company Profile (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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