Occidental Petroleum Corporation (NYSE:OXY) Receives $47.48 Consensus Target Price from Analysts

Occidental Petroleum Corporation (NYSE:OXY) has received a consensus recommendation of “Hold” from the twenty-three research firms that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $47.4762.

Several analysts have issued reports on OXY shares. Susquehanna lowered their target price on shares of Occidental Petroleum from $55.00 to $51.00 and set a “positive” rating on the stock in a research note on Monday, January 26th. Jefferies Financial Group decreased their price target on shares of Occidental Petroleum from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Tuesday, January 20th. Scotiabank reduced their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating for the company in a research note on Friday, January 16th. JPMorgan Chase & Co. decreased their target price on shares of Occidental Petroleum from $44.00 to $42.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 20th. Finally, Wolfe Research cut their target price on shares of Occidental Petroleum from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st.

Insider Buying and Selling

In other Occidental Petroleum news, Director William R. Klesse purchased 5,000 shares of Occidental Petroleum stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average price of $38.98 per share, for a total transaction of $194,900.00. Following the acquisition, the director owned 218,913 shares in the company, valued at $8,533,228.74. This trade represents a 2.34% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. purchased a new position in Occidental Petroleum during the 2nd quarter worth approximately $27,000. Activest Wealth Management grew its stake in shares of Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 305 shares in the last quarter. Rossby Financial LCC raised its stake in shares of Occidental Petroleum by 155.0% in the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 465 shares in the last quarter. City Holding Co. raised its stake in Occidental Petroleum by 250.0% in the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 500 shares in the last quarter. Finally, Binnacle Investments Inc purchased a new position in shares of Occidental Petroleum during the third quarter worth about $35,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 1.2%

Shares of NYSE OXY opened at $46.02 on Thursday. The stock has a market capitalization of $45.34 billion, a PE ratio of 33.84 and a beta of 0.41. The business’s fifty day moving average price is $42.76 and its 200-day moving average price is $43.46. Occidental Petroleum has a one year low of $34.78 and a one year high of $52.58. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.71.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.