Occidental Petroleum (NYSE:OXY) Price Target Raised to $72.00

Occidental Petroleum (NYSE:OXY) had its price target upped by research analysts at Mizuho from $67.00 to $72.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the oil and gas producer’s stock. Mizuho’s price objective suggests a potential upside of 24.19% from the company’s current price.

Other analysts have also issued research reports about the stock. Raymond James Financial restated an “outperform” rating and set a $50.00 price objective on shares of Occidental Petroleum in a research note on Tuesday, November 25th. Jefferies Financial Group increased their price objective on shares of Occidental Petroleum from $42.00 to $47.00 and gave the stock a “hold” rating in a report on Monday, February 23rd. Susquehanna boosted their target price on shares of Occidental Petroleum from $51.00 to $60.00 and gave the company a “positive” rating in a research note on Friday, February 20th. Barclays raised their price target on shares of Occidental Petroleum from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Scotiabank cut their price target on Occidental Petroleum from $47.00 to $46.00 and set a “sector perform” rating on the stock in a report on Friday, January 16th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $54.05.

Occidental Petroleum Trading Up 1.3%

OXY stock traded up $0.72 on Tuesday, hitting $57.97. 7,575,597 shares of the company were exchanged, compared to its average volume of 14,892,270. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.74. The stock has a market capitalization of $57.18 billion, a price-to-earnings ratio of 35.98 and a beta of 0.34. Occidental Petroleum has a twelve month low of $34.78 and a twelve month high of $59.15. The business’s fifty day moving average is $47.85 and its two-hundred day moving average is $44.67.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.13. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the company posted $0.80 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. As a group, research analysts forecast that Occidental Petroleum will post 3.58 earnings per share for the current year.

Institutional Investors Weigh In On Occidental Petroleum

Several large investors have recently made changes to their positions in the company. Caitlin John LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at approximately $29,000. Activest Wealth Management boosted its position in shares of Occidental Petroleum by 68.5% in the fourth quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares during the period. Rossby Financial LCC increased its position in Occidental Petroleum by 155.0% during the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 465 shares during the period. City Holding Co. increased its position in Occidental Petroleum by 250.0% during the third quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 500 shares during the period. Finally, Binnacle Investments Inc acquired a new position in Occidental Petroleum during the 3rd quarter valued at $35,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.