Occidental Petroleum Corporation (NYSE:OXY)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Group LLC in a report issued on Friday. They presently have a $58.00 price target on the oil and gas producer’s stock. Jefferies Group LLC’s target price would indicate a potential downside of 9.25% from the company’s current price.

OXY has been the subject of a number of other research reports. Cowen and Company reissued a “buy” rating and set a $75.00 target price on shares of Occidental Petroleum Corporation in a research report on Tuesday, August 22nd. Wolfe Research raised shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Zacks Investment Research downgraded shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Scotiabank reissued a “hold” rating and set a $60.00 target price on shares of Occidental Petroleum Corporation in a research report on Friday, June 30th. Finally, BMO Capital Markets reissued a “hold” rating and set a $65.00 target price on shares of Occidental Petroleum Corporation in a research report on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $65.50.

Occidental Petroleum Corporation (OXY) opened at 63.91 on Friday. The company has a 50 day moving average of $61.66 and a 200-day moving average of $61.32. The firm has a market cap of $48.86 billion, a PE ratio of 450.07 and a beta of 0.67. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $75.60.

Occidental Petroleum Corporation (NYSE:OXY) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The company’s revenue was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. On average, equities research analysts predict that Occidental Petroleum Corporation will post $0.65 earnings per share for the current year.

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In other news, Director William R. Klesse acquired 10,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was bought at an average price of $61.58 per share, with a total value of $615,800.00. Following the completion of the transaction, the director now directly owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Empire Life Investments Inc. acquired a new stake in shares of Occidental Petroleum Corporation during the first quarter worth approximately $8,743,000. Flippin Bruce & Porter Inc. grew its position in shares of Occidental Petroleum Corporation by 65.7% during the first quarter. Flippin Bruce & Porter Inc. now owns 140,174 shares of the oil and gas producer’s stock worth $8,881,000 after buying an additional 55,599 shares in the last quarter. Wedbush Securities Inc. grew its position in shares of Occidental Petroleum Corporation by 30.6% during the first quarter. Wedbush Securities Inc. now owns 17,044 shares of the oil and gas producer’s stock worth $1,080,000 after buying an additional 3,997 shares in the last quarter. Neuburgh Advisers LLC grew its position in shares of Occidental Petroleum Corporation by 34.1% during the first quarter. Neuburgh Advisers LLC now owns 8,240 shares of the oil and gas producer’s stock worth $522,000 after buying an additional 2,096 shares in the last quarter. Finally, Commerce Bank grew its position in shares of Occidental Petroleum Corporation by 5.6% during the first quarter. Commerce Bank now owns 102,669 shares of the oil and gas producer’s stock worth $6,505,000 after buying an additional 5,452 shares in the last quarter. 80.60% of the stock is owned by institutional investors.

About Occidental Petroleum Corporation

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Occidental Petroleum Corporation (NYSE:OXY)

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