Occidental Petroleum (NYSE:OXY) Price Target Cut to $44.00 by Analysts at UBS Group

Occidental Petroleum (NYSE:OXY - Get Free Report) had its price objective dropped by research analysts at UBS Group from $52.00 to $44.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas producer's stock. UBS Group's price target indicates a potential upside of 16.77% from the stock's current price.

OXY has been the subject of several other research reports. Truist Financial increased their price target on Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a research note on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on Occidental Petroleum from $59.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Piper Sandler dropped their price objective on Occidental Petroleum from $51.00 to $50.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. The Goldman Sachs Group cut Occidental Petroleum from a "neutral" rating to a "sell" rating and decreased their target price for the company from $54.00 to $45.00 in a research note on Friday, January 31st. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Occidental Petroleum in a report on Friday, February 21st. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $56.71.

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Occidental Petroleum Stock Performance

Shares of NYSE OXY traded up $1.21 during midday trading on Monday, hitting $37.68. The company's stock had a trading volume of 17,798,376 shares, compared to its average volume of 10,789,058. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The firm's fifty day moving average price is $46.66 and its 200-day moving average price is $49.14. Occidental Petroleum has a 1-year low of $34.79 and a 1-year high of $71.19. The firm has a market cap of $35.41 billion, a P/E ratio of 15.44 and a beta of 1.02.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.13. The business had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. On average, sell-side analysts forecast that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Berkshire Hathaway Inc purchased 763,017 shares of the stock in a transaction on Friday, February 7th. The shares were bought at an average price 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 in the company, valued at approximately $12,404,557,799.42. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OXY. Joule Financial LLC boosted its stake in Occidental Petroleum by 6.8% during the 1st quarter. Joule Financial LLC now owns 10,244 shares of the oil and gas producer's stock valued at $506,000 after purchasing an additional 649 shares during the period. Chemistry Wealth Management LLC lifted its holdings in shares of Occidental Petroleum by 65.1% during the first quarter. Chemistry Wealth Management LLC now owns 41,754 shares of the oil and gas producer's stock worth $2,061,000 after buying an additional 16,459 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Occidental Petroleum in the first quarter worth $204,000. Procyon Advisors LLC increased its position in Occidental Petroleum by 6.4% during the first quarter. Procyon Advisors LLC now owns 55,375 shares of the oil and gas producer's stock worth $2,733,000 after acquiring an additional 3,331 shares during the period. Finally, Intellectus Partners LLC increased its holdings in shares of Occidental Petroleum by 5.7% during the 1st quarter. Intellectus Partners LLC now owns 21,051 shares of the oil and gas producer's stock worth $1,044,000 after purchasing an additional 1,141 shares during the period. Institutional investors and hedge funds 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.