Occidental Petroleum (NYSE:OXY) Stock Rating Upgraded by Roth Capital

Occidental Petroleum (NYSE:OXY) was upgraded by stock analysts at Roth Capital from a “neutral” rating to a “buy” rating in a report released on Friday, Marketbeat.com reports. The brokerage presently has a $70.00 price target on the oil and gas producer’s stock. Roth Capital’s price objective would indicate a potential upside of 12.26% from the stock’s previous close.

OXY has been the topic of a number of other reports. Weiss Ratings raised Occidental Petroleum from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Susquehanna raised their target price on Occidental Petroleum from $67.00 to $70.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Occidental Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Truist Financial lifted their price objective on Occidental Petroleum from $63.00 to $64.00 and gave the company a “hold” rating in a report on Thursday. Finally, Zacks Research downgraded shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Thirteen research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.71.

Occidental Petroleum Stock Performance

OXY traded up $1.69 during trading on Friday, reaching $62.35. 6,405,950 shares of the company’s stock were exchanged, compared to its average volume of 12,058,223. The company has a market capitalization of $62.33 billion, a P/E ratio of 9.64, a PEG ratio of 0.96 and a beta of 0.24. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $59.28 and a 200 day moving average price of $57.25. Occidental Petroleum has a fifty-two week low of $38.80 and a fifty-two week high of $67.45.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The company had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. During the same quarter in the prior year, the company posted $0.39 EPS. The business’s revenue was up 53.4% on a year-over-year basis. As a group, analysts predict that Occidental Petroleum will post 6.20 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Axiom Investment Management LLC acquired a new position in Occidental Petroleum during the 1st quarter worth $25,000. GKV Capital Management Co. Inc. bought a new position in Occidental Petroleum in the 1st quarter valued at $26,000. Portus Wealth Advisors LLC bought a new position in Occidental Petroleum in the 1st quarter valued at $29,000. Hara Capital LLC acquired a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $25,000. Finally, Ballast Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at $39,000. Institutional investors own 88.70% of the company’s stock.

Key Headlines Impacting Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Value-focused analysis from Zacks identifies Occidental as a stock that may be undervalued, while a separate Zacks review says the company has a strong earnings-surprise history and favorable estimate trends heading into its next report. These factors could support investor expectations for another earnings beat. Are Investors Undervaluing Occidental Petroleum Right Now? Will Occidental Beat Estimates Again?
• Positive Sentiment: Morgan Stanley raised its OXY price target from $69 to $71, implying additional upside from recent trading levels, although it retained an Equal Weight rating. Truist Financial also lifted its target, from $63 to $64. Morgan Stanley Raises Occidental Petroleum Price Target Truist Raises Occidental Petroleum Price Target
• Positive Sentiment: Coverage also points to a reported third-quarter oil gain, while broader commentary highlights Occidental as an energy name attracting attention as crude prices stabilize. Improving production or oil-market conditions could benefit revenue and cash flow. Occidental Petroleum Reports Third-Quarter Oil Gain Occidental Petroleum as Crude Steadies
• Neutral Sentiment: UBS reportedly forecasts strong potential price appreciation but maintains a Hold rating, underscoring a favorable valuation opportunity without a strong enough catalyst for a bullish recommendation. Occidental Petroleum Gets a Hold from UBS
• Neutral Sentiment: Zacks’ comparison of OXY with DT Midstream frames Occidental as a value candidate, but the article does not establish a decisive advantage over its peer. OXY or DTM: Which Is the Better Value Stock?

About Occidental Petroleum

Occidental Petroleum Corporation, commonly known as Oxy, is an energy company engaged in the exploration, development and production of oil and natural gas. Its upstream operations are concentrated in the United States, including the Permian and Denver-Julesburg basins, and in selected international regions such as the Middle East and North Africa.

The company also operates midstream and marketing businesses that support the gathering, processing, transportation and sale of oil, natural gas and natural gas liquids.