Occidental Petroleum (NYSE:OXY) PT Raised to $85.00

Occidental Petroleum (NYSE:OXYGet Rating) had its target price raised by research analysts at Capital One Financial to $85.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the oil and gas producer’s stock. Capital One Financial‘s price objective indicates a potential upside of 32.09% from the stock’s previous close. Capital One Financial also issued estimates for Occidental Petroleum’s FY2022 earnings at $7.38 EPS.

A number of other analysts also recently weighed in on OXY. Piper Sandler raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their target price for the company from $44.00 to $88.00 in a research report on Thursday, April 7th. 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. Raymond James raised their price objective 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. Mizuho raised their price objective on shares of Occidental Petroleum from $78.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, March 31st. Finally, Morgan Stanley raised their price objective on shares of Occidental Petroleum from $52.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, April 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Occidental Petroleum has a consensus rating of “Buy” and a consensus target price of $63.15.

NYSE:OXY traded up $0.05 on Thursday, reaching $64.35. 785,968 shares of the stock traded hands, compared to its average volume of 29,223,632. The firm has a market capitalization of $60.31 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 0.22 and a beta of 1.94. The company’s 50 day moving average is $58.84 and its 200-day moving average is $43.58. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. Occidental Petroleum has a 1-year low of $21.62 and a 1-year high of $69.17.

Occidental Petroleum (NYSE:OXYGet Rating) last released its earnings results on Tuesday, May 10th. The oil and gas producer reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.09. The business had revenue of $8.53 billion during the quarter, compared to the consensus estimate of $8.06 billion. Occidental Petroleum had a net margin of 25.01% and a return on equity of 47.28%. The company’s revenue for the quarter was up 61.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.15) EPS. On average, equities research analysts forecast that Occidental Petroleum will post 9.73 EPS for the current fiscal year.

In other news, major shareholder Berkshire Hathaway Inc bought 185,419 shares of the company’s stock in a transaction that occurred on Thursday, May 12th. The stock was bought at an average price of $57.34 per share, for a total transaction of $10,631,925.46. Following the transaction, the insider now directly owns 143,162,392 shares of the company’s stock, valued at approximately $8,208,931,557.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Avedick Baruyr Poladian sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $57.23, for a total value of $1,144,600.00. The disclosure for this sale can be found here. Insiders have acquired a total of 6,783,083 shares of company stock valued at $387,503,934 in the last ninety days. Insiders own 0.31% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Orion Portfolio Solutions LLC purchased a new position in shares of Occidental Petroleum during the first quarter valued at approximately $376,000. Cowa LLC purchased a new stake in Occidental Petroleum in the first quarter worth $214,000. Range Financial Group LLC purchased a new stake in Occidental Petroleum in the first quarter worth $882,000. Worldquant Millennium Advisors LLC grew its stake in Occidental Petroleum by 18.5% in the first quarter. Worldquant Millennium Advisors LLC now owns 183,556 shares of the oil and gas producer’s stock worth $10,415,000 after purchasing an additional 28,597 shares during the period. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in Occidental Petroleum in the first quarter worth $17,294,000. Hedge funds and other institutional investors own 86.15% of the company’s stock.

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.

Featured Stories

Stock Target Advisor logo

Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.