Occidental Petroleum (NYSE:OXY) Price Target Cut to $77.00

Occidental Petroleum (NYSE:OXY - Get Free Report) had its price objective dropped by Susquehanna from $78.00 to $77.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a "positive" rating on the oil and gas producer's stock. Susquehanna's price objective points to a potential upside of 49.08% from the stock's current price.

Several other equities analysts have also issued reports on OXY. Wells Fargo & Company decreased their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating for the company in a report on Friday, September 27th. Bank of America started coverage on Occidental Petroleum in a research note on Thursday. They issued a "neutral" rating and a $57.00 target price for the company. Wolfe Research began coverage on Occidental Petroleum in a research report on Thursday, July 18th. They set an "outperform" rating and a $81.00 price target on the stock. BMO Capital Markets decreased their price objective on Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating for the company in a research report on Friday, October 4th. Finally, StockNews.com downgraded shares of Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Saturday, October 5th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $65.72.

Occidental Petroleum Trading Down 0.1 %

NYSE:OXY traded down $0.07 during mid-day trading on Friday, hitting $51.65. The company had a trading volume of 9,424,307 shares, compared to its average volume of 14,018,002. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum has a fifty-two week low of $49.75 and a fifty-two week high of $71.18. The firm has a market cap of $46.78 billion, a P/E ratio of 12.72 and a beta of 1.57. The business's fifty day moving average is $54.08 and its two-hundred day moving average is $59.86.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum's revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the company posted $0.68 EPS. As a group, research analysts expect that Occidental Petroleum will post 3.48 earnings per share for the current year.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.48% of the company's stock.

Institutional Trading of Occidental Petroleum

Hedge funds have recently made changes to their positions in the business. Investment Research & Advisory Group Inc. boosted its holdings in shares of Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer's stock worth $25,000 after buying an additional 167 shares during the period. New Covenant Trust Company N.A. bought a new stake in shares of Occidental Petroleum during the first quarter worth approximately $44,000. LRI Investments LLC acquired a new position in shares of Occidental Petroleum in the first quarter valued at approximately $44,000. Riverview Trust Co bought a new position in shares of Occidental Petroleum during the first quarter worth approximately $63,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Occidental Petroleum during the 3rd quarter worth approximately $87,000. 88.70% of the stock is owned by institutional investors and hedge funds.

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.