Occidental Petroleum (NYSE:OXY) Price Target Raised to $56.00 at UBS Group

Occidental Petroleum (NYSE:OXY - Get Free Report) had its price objective hoisted by investment analysts at UBS Group from $54.00 to $56.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas producer's stock. UBS Group's price target suggests a potential upside of 11.08% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group boosted their target price on Occidental Petroleum from $53.00 to $54.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. Wells Fargo & Company dropped their price target on shares of Occidental Petroleum from $53.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Thursday. StockNews.com upgraded shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Wednesday. Susquehanna decreased their price objective on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a report on Thursday, November 14th. Finally, Citigroup decreased their target price on shares of Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 26th. Two investment 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 stock. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of "Hold" and a consensus price target of $61.90.

Occidental Petroleum Stock Performance

OXY stock traded down $1.68 during mid-day trading on Thursday, reaching $50.42. The company had a trading volume of 13,722,862 shares, compared to its average volume of 10,674,001. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $47.31 billion, a P/E ratio of 20.66 and a beta of 1.55. Occidental Petroleum has a one year low of $45.17 and a one year high of $71.18. The stock's 50-day simple moving average is $49.14 and its two-hundred day simple moving average is $51.45.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to analysts' expectations of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Research analysts anticipate that Occidental Petroleum will post 3.56 EPS for the current year.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the business's stock in a transaction that occurred on Friday, February 7th. The shares were acquired at an average cost of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the acquisition, the insider now directly owns 264,941,431 shares of the company's stock, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought a total of 6,854,394 shares of company stock worth $315,101,532 over the last 90 days. Insiders own 0.31% of the company's stock.

Institutional Trading of Occidental Petroleum

Several institutional investors and hedge funds have recently made changes to their positions in OXY. Mackenzie Financial Corp lifted its stake in shares of Occidental Petroleum by 47.7% in the 4th quarter. Mackenzie Financial Corp now owns 50,158 shares of the oil and gas producer's stock valued at $2,478,000 after purchasing an additional 16,188 shares during the period. Formidable Asset Management LLC boosted its holdings in Occidental Petroleum by 41.6% during the fourth quarter. Formidable Asset Management LLC now owns 7,665 shares of the oil and gas producer's stock worth $379,000 after buying an additional 2,250 shares during the last quarter. Pacific Point Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $494,000. Neo Ivy Capital Management acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $1,437,000. Finally, GTS Securities LLC raised its position in shares of Occidental Petroleum by 395.8% in the 4th quarter. GTS Securities LLC now owns 25,775 shares of the oil and gas producer's stock valued at $1,274,000 after acquiring an additional 20,576 shares during the period. 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.