Mizuho Reiterates “Hold” Rating for Occidental Petroleum Corporation (OXY)
Occidental Petroleum Corporation (NYSE:OXY)‘s stock had its “hold” rating reissued by investment analysts at Mizuho in a research report issued on Friday. They currently have a $64.00 target price on the oil and gas producer’s stock. Mizuho’s price target suggests a potential downside of 6.24% from the stock’s current price.
Several other research firms have also issued reports on OXY. Jefferies Group LLC increased their target price on Occidental Petroleum Corporation from $62.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday. Cowen and Company reissued a “buy” rating and set a $80.00 target price on shares of Occidental Petroleum Corporation in a research note on Thursday, September 28th. Morgan Stanley increased their price target on Occidental Petroleum Corporation from $62.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. BMO Capital Markets set a $60.00 price target on Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, October 10th. Finally, Barclays PLC increased their price target on Occidental Petroleum Corporation from $38.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.07.
Occidental Petroleum Corporation (NYSE OXY) traded up $0.36 on Friday, reaching $68.26. The company had a trading volume of 6,362,703 shares, compared to its average volume of 4,211,317. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.11. The stock has a market cap of $52,235.63, a price-to-earnings ratio of 195.03, a price-to-earnings-growth ratio of 14.47 and a beta of 0.63.
Occidental Petroleum Corporation (NYSE:OXY) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. Occidental Petroleum Corporation had a return on equity of 1.31% and a net margin of 4.33%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company earned ($0.15) EPS. Occidental Petroleum Corporation’s revenue was up 13.3% on a year-over-year basis. research analysts anticipate that Occidental Petroleum Corporation will post 0.71 EPS for the current year.
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In other Occidental Petroleum Corporation news, Director William R. Klesse bought 10,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average price of $61.58 per share, with a total value of $615,800.00. Following the transaction, the director now owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Occidental Petroleum Corporation by 3,198.5% during the 1st quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after buying an additional 57,202,942 shares during the last quarter. Vanguard Group Inc. grew its stake in Occidental Petroleum Corporation by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock worth $3,304,357,000 after buying an additional 1,119,588 shares during the last quarter. State Street Corp grew its stake in Occidental Petroleum Corporation by 1.7% during the 1st quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock worth $2,511,168,000 after buying an additional 681,032 shares during the last quarter. Wellington Management Group LLP grew its stake in Occidental Petroleum Corporation by 0.8% during the 1st quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock worth $884,058,000 after buying an additional 105,546 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Occidental Petroleum Corporation by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock worth $830,010,000 after buying an additional 247,780 shares during the last quarter. Hedge funds and other institutional investors own 80.67% of the company’s stock.
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.
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