Occidental Petroleum (NYSE:OXY) Price Target Lowered to $58.00 at UBS Group

Occidental Petroleum (NYSE:OXY) had its price target lowered by UBS Group from $59.00 to $58.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price objective suggests a potential upside of 14.85% from the company’s current price.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Bank of America started coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price objective for the company. Truist Financial lowered their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Stephens increased their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Scotiabank dropped their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.65.

Occidental Petroleum Price Performance

Shares of Occidental Petroleum stock opened at $50.50 on Monday. The firm has a market cap of $47.39 billion, a PE ratio of 13.15 and a beta of 1.58. Occidental Petroleum has a twelve month low of $48.42 and a twelve month high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The business has a 50-day moving average price of $51.75 and a 200 day moving average price of $57.19.

Institutional Investors Weigh In On Occidental Petroleum

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC raised its stake in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Occidental Petroleum in the third quarter valued at approximately $32,000. New Covenant Trust Company N.A. purchased a new stake in shares of Occidental Petroleum in the first quarter valued at $44,000. LRI Investments LLC purchased a new position in shares of Occidental Petroleum during the 1st quarter worth about $44,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at $50,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

About Occidental Petroleum

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.