Occidental Petroleum (NYSE:OXY) Price Target Cut to $54.00 by Analysts at Wolfe Research

Occidental Petroleum (NYSE:OXY) had its price objective decreased by stock analysts at Wolfe Research from $55.00 to $54.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage presently has an “outperform” rating on the oil and gas producer’s stock. Wolfe Research’s target price suggests a potential upside of 22.37% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Mizuho increased their price objective on Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. The Goldman Sachs Group reduced their price target on Occidental Petroleum from $43.00 to $41.00 and set a “sell” rating for the company in a research report on Thursday. Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 target price on shares of Occidental Petroleum in a report on Tuesday, November 25th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $44.00 price target (down from $51.00) on shares of Occidental Petroleum in a research report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $47.57.

Occidental Petroleum Trading Up 2.3%

Shares of NYSE:OXY traded up $0.98 during trading hours on Wednesday, hitting $44.13. 11,388,926 shares of the company’s stock traded hands, compared to its average volume of 10,287,986. The firm has a market capitalization of $43.47 billion, a P/E ratio of 32.45 and a beta of 0.38. The business has a fifty day moving average price of $41.66 and a 200-day moving average price of $43.36. Occidental Petroleum has a 1 year low of $34.78 and a 1 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.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.66 billion. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.Occidental Petroleum’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.00 EPS. Equities analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director William R. Klesse purchased 5,000 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was acquired at an average cost of $38.98 per share, for a total transaction of $194,900.00. Following the completion of the transaction, the director directly owned 218,913 shares in the company, valued at approximately $8,533,228.74. The trade was a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Occidental Petroleum

Several institutional investors have recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. acquired a new position in Occidental Petroleum during the second quarter worth $27,000. City Holding Co. lifted its stake in Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Binnacle Investments Inc purchased a new position in Occidental Petroleum during the 3rd quarter valued at about $35,000. Hantz Financial Services Inc. grew its position in Occidental Petroleum by 1,193.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 788 shares in the last quarter. Finally, GoalVest Advisory LLC acquired a new stake in shares of Occidental Petroleum during the third quarter worth about $38,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

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.