Occidental Petroleum Co. (NYSE:OXY) Receives Average Recommendation of “Hold” from Analysts

Occidental Petroleum Co. (NYSE:OXY) has earned a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $65.72.

Several brokerages have commented on OXY. Wolfe Research began coverage on Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 target price on the stock. Susquehanna lowered their price objective on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Stephens reissued an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a research report on Thursday, August 8th. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective for the company. Finally, Evercore ISI lowered their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th.

Occidental Petroleum Stock Up 0.0 %

Shares of OXY opened at $51.35 on Friday. The company has a market capitalization of $46.50 billion, a PE ratio of 12.65 and a beta of 1.57. Occidental Petroleum has a 12 month low of $49.75 and a 12 month high of $71.18. The stock’s 50-day moving average price is $53.71 and its two-hundred day moving average price is $59.46. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77.

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

Insider Transactions at Occidental Petroleum

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Institutional investors and hedge funds have recently modified their holdings of the stock. Ballentine Partners LLC bought a new position in shares of Occidental Petroleum in the first quarter valued at approximately $216,000. Global Assets Advisory LLC bought a new position in shares of Occidental Petroleum in the first quarter valued at approximately $1,527,000. Brookstone Capital Management grew its holdings in shares of Occidental Petroleum by 32.2% in the first quarter. Brookstone Capital Management now owns 16,410 shares of the oil and gas producer’s stock valued at $1,066,000 after acquiring an additional 3,995 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new position in shares of Occidental Petroleum in the first quarter valued at approximately $274,000. Finally, Grimes & Company Inc. bought a new position in shares of Occidental Petroleum in the first quarter valued at approximately $204,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.