Mizuho Has Lowered Expectations for Occidental Petroleum (NYSE:OXY) Stock Price

Occidental Petroleum (NYSE:OXY) had its target price lowered by research analysts at Mizuho from $72.00 to $70.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Mizuho’s price objective points to a potential upside of 50.34% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Wolfe Research boosted their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. Wells Fargo & Company lowered their price objective on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Monday, December 9th. Barclays reduced their target price on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $62.65.

Occidental Petroleum Trading Down 0.1 %

NYSE:OXY opened at $46.56 on Monday. The firm has a market capitalization of $43.69 billion, a P/E ratio of 12.13 and a beta of 1.57. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The company has a fifty day moving average of $50.53 and a 200 day moving average of $55.26. Occidental Petroleum has a 52 week low of $45.79 and a 52 week high of $71.18.

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors have recently bought and sold shares of the stock. Rule One Partners LLC bought a new stake in shares of Occidental Petroleum in the third quarter worth about $14,199,000. Stephens Inc. AR increased its stake in Occidental Petroleum by 221.0% in the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after acquiring an additional 10,382 shares during the last quarter. Weiss Asset Management LP purchased a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $2,509,000. Cerity Partners LLC boosted its position in shares of Occidental Petroleum by 27.7% during the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer’s stock valued at $3,638,000 after acquiring an additional 15,316 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Occidental Petroleum by 1.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock worth $76,385,000 after purchasing an additional 22,920 shares during the last quarter. 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.