Occidental Petroleum (NYSE:OXY) Earns “Overweight” Rating from Stephens

Occidental Petroleum (NYSE:OXY)‘s stock had its “overweight” rating reissued by research analysts at Stephens in a report issued on Wednesday,Benzinga reports. They currently have a $71.00 target price on the oil and gas producer’s stock. Stephens’ price objective would indicate a potential upside of 39.78% from the company’s current price.

Other analysts also recently issued research reports about the company. Piper Sandler dropped their price target on Occidental Petroleum from $57.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Jefferies Financial Group upped their price target on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. TD Cowen reduced their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. The Goldman Sachs Group cut Occidental Petroleum from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $54.00 to $45.00 in a report on Friday, January 31st. Finally, Citigroup reduced their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $61.71.

Occidental Petroleum Trading Up 4.0 %

Shares of NYSE:OXY opened at $50.80 on Wednesday. Occidental Petroleum has a 12-month low of $45.17 and a 12-month high of $71.18. The business’s fifty day simple moving average is $49.01 and its 200-day simple moving average is $51.45. The company has a market capitalization of $47.66 billion, a PE ratio of 13.27 and a beta of 1.55. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. Occidental Petroleum had a return on equity of 15.98% and a net margin of 15.89%. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. As a group, equities research analysts predict that Occidental Petroleum will post 3.34 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of Occidental Petroleum stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now owns 264,941,431 shares of the company’s stock, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders bought 6,854,394 shares of company stock valued at $315,101,532. Insiders own 0.48% of the company’s stock.

Institutional Trading of Occidental Petroleum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacific Point Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $494,000. Neo Ivy Capital Management acquired a new stake in shares of Occidental Petroleum in the 4th quarter worth approximately $1,437,000. GTS Securities LLC grew its holdings in shares of Occidental Petroleum by 395.8% in the 4th quarter. GTS Securities LLC now owns 25,775 shares of the oil and gas producer’s stock worth $1,274,000 after acquiring an additional 20,576 shares during the period. Vise Technologies Inc. grew its holdings in shares of Occidental Petroleum by 129.6% in the 4th quarter. Vise Technologies Inc. now owns 16,191 shares of the oil and gas producer’s stock worth $800,000 after acquiring an additional 9,140 shares during the period. Finally, Headinvest LLC grew its holdings in shares of Occidental Petroleum by 92.5% in the 4th quarter. Headinvest LLC now owns 8,466 shares of the oil and gas producer’s stock worth $418,000 after acquiring an additional 4,067 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.