Occidental Petroleum (NYSE:OXY) PT Lowered to $58.00

Occidental Petroleum (NYSE:OXY) had its price objective decreased by stock analysts at Barclays from $67.00 to $58.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the oil and gas producer’s stock. Barclays‘s price objective indicates a potential upside of 4.02% from the company’s previous close.

Several other equities analysts also recently weighed in on OXY. Stephens reaffirmed an “overweight” rating and set a $76.00 price target on shares of Occidental Petroleum in a report on Thursday, August 8th. Wolfe Research began coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 target price on the stock. Evercore ISI lowered their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company lowered their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Finally, UBS Group lowered their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.18.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $55.76 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. Occidental Petroleum has a 1-year low of $49.75 and a 1-year high of $71.18. The company has a market capitalization of $49.44 billion, a P/E ratio of 15.23 and a beta of 1.57. The firm’s 50 day simple moving average is $55.08 and its two-hundred day simple moving average is $60.62.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts expect that Occidental Petroleum will post 3.57 EPS for the current fiscal year.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OXY. CIBC Private Wealth Group LLC increased its position in Occidental Petroleum by 159.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 27,318 shares of the oil and gas producer’s stock valued at $1,631,000 after acquiring an additional 16,793 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Occidental Petroleum by 10.8% during the fourth quarter. First Trust Advisors LP now owns 994,528 shares of the oil and gas producer’s stock valued at $59,383,000 after purchasing an additional 96,593 shares during the period. Cetera Advisor Networks LLC boosted its stake in shares of Occidental Petroleum by 10.3% during the fourth quarter. Cetera Advisor Networks LLC now owns 82,869 shares of the oil and gas producer’s stock valued at $4,948,000 after purchasing an additional 7,719 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in shares of Occidental Petroleum by 1,467.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 100,533 shares of the oil and gas producer’s stock valued at $6,003,000 after purchasing an additional 94,119 shares during the period. Finally, Cibc World Markets Corp boosted its stake in shares of Occidental Petroleum by 670.1% during the fourth quarter. Cibc World Markets Corp now owns 282,027 shares of the oil and gas producer’s stock valued at $16,840,000 after purchasing an additional 245,405 shares during the period. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

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.