Occidental Petroleum (NYSE:OXY) had its price target increased by investment analysts at Morgan Stanley from $66.00 to $84.00 in a note issued to investors on Wednesday. The brokerage currently has an “equal weight” rating on the oil and gas producer’s stock. Morgan Stanley’s price objective would indicate a potential upside of 8.50% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Goldman Sachs Group upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Credit Suisse Group initiated coverage on shares of Occidental Petroleum in a report on Monday, December 11th. They set a “neutral” rating and a $62.00 price objective on the stock. Bank of America upped their price objective on shares of Occidental Petroleum from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Jefferies Group upped their price objective on shares of Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Finally, Barclays upped their price objective on shares of Occidental Petroleum from $38.00 to $40.00 and gave the stock an “underweight” rating in a report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $70.07.

Occidental Petroleum (OXY) traded down $0.21 on Wednesday, reaching $77.42. 3,313,900 shares of the company’s stock traded hands, compared to its average volume of 3,642,587. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.11. Occidental Petroleum has a 1 year low of $57.20 and a 1 year high of $77.90. The firm has a market capitalization of $59,700.00, a P/E ratio of 109.04, a price-to-earnings-growth ratio of 5.48 and a beta of 0.65.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company posted ($0.15) earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. analysts forecast that Occidental Petroleum will post 0.84 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. raised its holdings in shares of Occidental Petroleum by 3.6% in the second quarter. Macquarie Group Ltd. now owns 11,948,897 shares of the oil and gas producer’s stock valued at $715,381,000 after purchasing an additional 418,349 shares during the last quarter. Capital International Investors raised its holdings in shares of Occidental Petroleum by 3.6% in the third quarter. Capital International Investors now owns 8,273,652 shares of the oil and gas producer’s stock valued at $531,251,000 after purchasing an additional 289,718 shares during the last quarter. Epoch Investment Partners Inc. raised its holdings in shares of Occidental Petroleum by 22.0% in the third quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock valued at $520,341,000 after purchasing an additional 1,461,761 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Occidental Petroleum by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 6,564,040 shares of the oil and gas producer’s stock valued at $421,505,000 after purchasing an additional 175,502 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Occidental Petroleum by 12.3% during the third quarter. Dimensional Fund Advisors LP now owns 4,273,139 shares of the oil and gas producer’s stock worth $274,401,000 after buying an additional 466,933 shares during the last quarter. Institutional investors own 80.15% of the company’s stock.

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Occidental Petroleum Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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