Occidental Petroleum (NYSE:OXY) Price Target Lowered to $51.00 at Citigroup

Occidental Petroleum (NYSE:OXY - Get Free Report) had its price target decreased by analysts at Citigroup from $56.00 to $51.00 in a report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas producer's stock. Citigroup's target price points to a potential upside of 6.26% from the company's current price.

OXY has been the topic of a number of other reports. JPMorgan Chase & Co. lowered their price objective on shares of Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Piper Sandler lowered their price objective on shares of Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Roth Capital set a $54.00 price objective on shares of Occidental Petroleum in a research note on Thursday, January 23rd. Wells Fargo & Company restated an "equal weight" rating on shares of Occidental Petroleum in a report on Friday, February 21st. Finally, Mizuho reduced their target price on shares of Occidental Petroleum from $72.00 to $70.00 and set a "neutral" rating on the stock in a report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $60.45.

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Occidental Petroleum Price Performance

Shares of NYSE:OXY traded up $0.03 on Monday, reaching $47.99. 9,055,013 shares of the company were exchanged, compared to its average volume of 9,906,015. The firm has a market cap of $45.04 billion, a price-to-earnings ratio of 19.67 and a beta of 1.51. Occidental Petroleum has a 1-year low of $44.70 and a 1-year high of $71.19. The company has a 50-day moving average of $48.68 and a 200-day moving average of $50.11. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. The firm had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $7.14 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Equities analysts forecast that Occidental Petroleum will post 3.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the stock in a transaction on Friday, February 7th. The stock was bought at an average price of $46.82 per share, with a total value of $35,724,455.94. Following the completion of the transaction, the insider now directly owns 264,941,431 shares of the company's stock, valued at $12,404,557,799.42. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.31% of the stock is owned by corporate insiders.

Institutional Trading of Occidental Petroleum

Large investors have recently bought and sold shares of the company. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $27,000. Bernard Wealth Management Corp. acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $32,000. Finally, Atala Financial Inc acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds 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.