UBS Group Cuts Occidental Petroleum (NYSE:OXY) Price Target to $58.00

Occidental Petroleum (NYSE:OXY - Get Free Report) had its price objective lowered by equities researchers at UBS Group from $59.00 to $58.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas producer's stock. UBS Group's price target points to a potential upside of 13.90% from the stock's previous close.

Several other equities analysts have also recently weighed in on the company. Scotiabank cut their price objective on Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. TD Cowen dropped their price objective on Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Barclays cut their target price on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company lowered their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating for the company in a research report on Friday, September 27th. Finally, Bank of America assumed coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They set a "neutral" rating and a $57.00 price objective for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.65.

Occidental Petroleum Stock Performance

Shares of NYSE OXY traded up $0.95 during midday trading on Monday, hitting $50.92. 11,980,515 shares of the company's stock were exchanged, compared to its average volume of 9,390,028. The stock's 50 day moving average price is $51.77 and its 200-day moving average price is $57.29. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.75. The firm has a market cap of $47.78 billion, a P/E ratio of 13.26 and a beta of 1.58. Occidental Petroleum has a twelve month low of $48.42 and a twelve month high of $71.18.

Institutional Trading of Occidental Petroleum

Several large investors have recently made changes to their positions in the company. Empire Financial Management Company LLC grew its stake in shares of Occidental Petroleum by 4.1% during the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer's stock worth $329,000 after acquiring an additional 250 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Occidental Petroleum by 30.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,576 shares of the oil and gas producer's stock valued at $596,000 after acquiring an additional 2,697 shares during the last quarter. Geode Capital Management LLC lifted its position in Occidental Petroleum by 3.3% during the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock valued at $710,886,000 after purchasing an additional 444,850 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Occidental Petroleum by 35.6% in the 3rd quarter. M&T Bank Corp now owns 50,428 shares of the oil and gas producer's stock worth $2,599,000 after buying an additional 13,245 shares during the last quarter. Finally, Guardian Wealth Management Inc. lifted its stake in Occidental Petroleum by 275.1% during the third quarter. Guardian Wealth Management Inc. now owns 51,690 shares of the oil and gas producer's stock worth $2,664,000 after purchasing an additional 37,909 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.