UBS Group Increases Occidental Petroleum (NYSE:OXY) Price Target to $45.00

Occidental Petroleum (NYSE:OXY) had its target price raised by research analysts at UBS Group from $42.00 to $45.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s target price suggests a potential upside of 1.03% from the company’s previous close.

Several other research firms have also recently weighed in on OXY. Mizuho reduced their price objective on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Melius began coverage on shares of Occidental Petroleum in a report on Wednesday. They issued a “hold” rating and a $64.00 price target for the company. Citigroup raised their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, May 19th. JPMorgan Chase & Co. upped their price objective on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Finally, Piper Sandler lifted their target price on Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Four investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $54.65.

Occidental Petroleum Stock Up 0.6%

OXY stock opened at $44.5410 on Wednesday. The stock has a market capitalization of $43.85 billion, a price-to-earnings ratio of 26.36 and a beta of 0.91. The company has a 50-day moving average of $44.17 and a two-hundred day moving average of $44.10. Occidental Petroleum has a 52-week low of $34.78 and a 52-week high of $58.47. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Occidental Petroleum will post 3.58 EPS for the current year.

Institutional Trading of Occidental Petroleum

A number of large investors have recently bought and sold shares of OXY. Canada Pension Plan Investment Board lifted its holdings in shares of Occidental Petroleum by 146.1% during the fourth quarter. Canada Pension Plan Investment Board now owns 75,718 shares of the oil and gas producer’s stock valued at $3,741,000 after acquiring an additional 44,956 shares during the period. First Trust Advisors LP increased its position in shares of Occidental Petroleum by 33.9% during the 4th quarter. First Trust Advisors LP now owns 1,055,070 shares of the oil and gas producer’s stock worth $52,131,000 after purchasing an additional 266,825 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Occidental Petroleum by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 954,772 shares of the oil and gas producer’s stock valued at $47,176,000 after purchasing an additional 5,487 shares during the last quarter. MGO One Seven LLC boosted its position in Occidental Petroleum by 53.7% in the fourth quarter. MGO One Seven LLC now owns 21,649 shares of the oil and gas producer’s stock valued at $1,070,000 after buying an additional 7,567 shares in the last quarter. Finally, Syon Capital LLC grew its stake in Occidental Petroleum by 10.9% during the fourth quarter. Syon Capital LLC now owns 29,513 shares of the oil and gas producer’s stock worth $1,458,000 after buying an additional 2,902 shares during the last quarter. 88.70% of the stock is currently owned by 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.