Occidental Petroleum (NYSE:OXY) PT Raised to $81.00 at Susquehanna

Occidental Petroleum (NYSE:OXY) had its target price increased by equities researchers at Susquehanna from $70.00 to $81.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “positive” rating on the oil and gas producer’s stock. Susquehanna’s target price points to a potential upside of 20.20% from the company’s previous close.

A number of other brokerages have also issued reports on OXY. Wells Fargo & Company raised their price objective on shares of Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Truist Financial raised their price objective on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, April 5th. Morgan Stanley raised their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $63.00 to $90.00 in a report on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Trading Up 0.6 %

OXY opened at $67.39 on Monday. The company’s 50 day moving average is $63.77 and its 200-day moving average is $61.25. Occidental Petroleum has a 1-year low of $55.12 and a 1-year high of $71.18. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The company has a market cap of $59.74 billion, a P/E ratio of 17.24 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the business earned $1.61 EPS. Equities research analysts predict that Occidental Petroleum will post 3.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds have recently bought and sold shares of the company. Muhlenkamp & Co. Inc. boosted its holdings in Occidental Petroleum by 1.0% during the 1st quarter. Muhlenkamp & Co. Inc. now owns 237,383 shares of the oil and gas producer’s stock worth $15,428,000 after acquiring an additional 2,264 shares during the last quarter. Wealth Advisory Solutions LLC boosted its holdings in shares of Occidental Petroleum by 18.1% in the 1st quarter. Wealth Advisory Solutions LLC now owns 168,744 shares of the oil and gas producer’s stock worth $10,967,000 after buying an additional 25,869 shares during the last quarter. Rational Advisors LLC purchased a new position in shares of Occidental Petroleum in the 1st quarter worth about $54,000. Intrinsic Value Partners LLC purchased a new position in shares of Occidental Petroleum in the 1st quarter worth about $1,240,000. Finally, PFG Investments LLC boosted its holdings in shares of Occidental Petroleum by 140.1% in the 1st quarter. PFG Investments LLC now owns 17,582 shares of the oil and gas producer’s stock worth $1,143,000 after buying an additional 10,259 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Company Profile

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.