Occidental Petroleum (NYSE:OXY) PT Lowered to $67.00

Occidental Petroleum (NYSE:OXY) had its price objective cut by equities research analysts at Truist Financial from $69.00 to $67.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas producer’s stock. Truist Financial’s price target would indicate a potential upside of 10.91% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Susquehanna upped their price target on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. HSBC initiated coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 price target on the stock. Morgan Stanley raised their target price on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Scotiabank decreased their price target on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Citigroup lowered their price target on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Ten equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and an average price target of $72.31.

Occidental Petroleum Stock Down 1.3 %

OXY stock opened at $60.41 on Monday. Occidental Petroleum has a one year low of $55.12 and a one year high of $71.18. The stock has a market capitalization of $53.56 billion, a P/E ratio of 16.51 and a beta of 1.61. The company has a 50 day moving average price of $61.75 and a two-hundred day moving average price of $62.01. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.71 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.01. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a net margin of 15.62% and a return on equity of 17.50%. Occidental Petroleum’s revenue was down 17.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 earnings per share. As a group, sell-side analysts expect that Occidental Petroleum will post 3.82 EPS for the current year.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 1,386,844 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were acquired at an average price of $59.67 per share, for a total transaction of $82,752,981.48. Following the purchase, the insider now owns 250,583,605 shares in the company, valued at approximately $14,952,323,710.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have purchased 4,656,747 shares of company stock worth $278,664,028 in the last ninety days. 0.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently made changes to their positions in OXY. Investment Research & Advisory Group Inc. lifted its position in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares during the last quarter. Grove Bank & Trust lifted its holdings in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 240 shares during the last quarter. LifeSteps Financial Inc. acquired a new position in Occidental Petroleum in the first quarter valued at approximately $34,000. Criterion Capital Advisors LLC bought a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $34,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $35,000. 88.70% of the stock is 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.