Occidental Petroleum Co. (NYSE:OXY) Given Average Rating of “Hold” by Analysts

Shares of Occidental Petroleum Co. (NYSE:OXY) have earned a consensus rating of “Hold” from the eighteen brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $65.72.

OXY has been the subject of several recent research reports. Truist Financial cut their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. UBS Group cut their target price on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Stephens restated an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a report on Thursday, August 8th. The Goldman Sachs Group began coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $50.08 on Friday. The stock has a market cap of $45.35 billion, a PE ratio of 12.33 and a beta of 1.57. The business has a fifty day simple moving average of $53.21 and a 200-day simple moving average of $58.89. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. Occidental Petroleum has a 12 month low of $49.75 and a 12 month high of $71.18.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the company earned $0.68 earnings per share. Occidental Petroleum’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Occidental Petroleum will post 3.31 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its position in Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares during the last quarter. Epoch Investment Partners Inc. raised its position in Occidental Petroleum by 20.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock worth $104,707,000 after purchasing an additional 277,462 shares during the last quarter. Himalaya Capital Management LLC bought a new position in Occidental Petroleum in the 2nd quarter worth approximately $92,433,000. Cooke & Bieler LP raised its position in shares of Occidental Petroleum by 53.1% during the 2nd quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after acquiring an additional 503,173 shares during the last quarter. Finally, Clean Energy Transition LLP bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at $67,601,000. Institutional investors 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.