Piper Sandler Lowers Occidental Petroleum (NYSE:OXY) Price Target to $51.00

Occidental Petroleum (NYSE:OXY - Get Free Report) had its price objective decreased by equities researchers at Piper Sandler from $57.00 to $51.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas producer's stock. Piper Sandler's target price would suggest a potential upside of 12.43% from the company's previous close.

A number of other equities research analysts also recently issued reports on the company. StockNews.com downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a research report on Wednesday. Jefferies Financial Group increased their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. TD Cowen reduced their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a "neutral" rating and a $55.00 price objective for the company. Finally, BMO Capital Markets decreased their price target on shares of 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. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus price target of $62.10.

Occidental Petroleum Trading Down 1.4 %

NYSE:OXY traded down $0.66 during trading hours on Thursday, reaching $45.36. 18,576,896 shares of the company were exchanged, compared to its average volume of 9,524,194. The firm has a market cap of $42.56 billion, a price-to-earnings ratio of 11.81 and a beta of 1.57. The stock has a 50 day simple moving average of $50.37 and a 200 day simple moving average of $55.20. Occidental Petroleum has a 52-week low of $45.17 and a 52-week high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors have recently modified their holdings of the business. Atria Wealth Solutions Inc. lifted its holdings in shares of Occidental Petroleum by 0.6% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer's stock worth $1,735,000 after purchasing an additional 176 shares during the last quarter. Premier Path Wealth Partners LLC increased its stake in shares of Occidental Petroleum by 12.1% in the second quarter. Premier Path Wealth Partners LLC now owns 5,334 shares of the oil and gas producer's stock valued at $336,000 after purchasing an additional 575 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Occidental Petroleum by 1.0% during the second quarter. Retirement Systems of Alabama now owns 146,687 shares of the oil and gas producer's stock valued at $9,246,000 after buying an additional 1,416 shares during the last quarter. LRI Investments LLC boosted its position in Occidental Petroleum by 34.6% during the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer's stock worth $57,000 after acquiring an additional 233 shares during the period. Finally, Schwartz Investment Counsel Inc. raised its stake in shares of Occidental Petroleum by 13.1% during the second quarter. Schwartz Investment Counsel Inc. now owns 216,430 shares of the oil and gas producer's stock valued at $13,642,000 after purchasing an additional 25,000 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

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.