Occidental Petroleum (NYSE:OXY) had its target price raised by research analysts at JPMorgan Chase & Co. from $74.00 to $75.00 in a research report issued on Thursday. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 9.57% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Morgan Stanley increased their price objective on shares of Occidental Petroleum from $66.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Citigroup upgraded shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective on the stock in a report on Monday, January 22nd. Cowen set a $85.00 price objective on shares of Occidental Petroleum and gave the company a “buy” rating in a report on Thursday, January 18th. Macquarie began coverage on shares of Occidental Petroleum in a report on Wednesday, January 17th. They issued a “neutral” rating on the stock. Finally, Mizuho set a $79.00 target price on shares of Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $70.60.

Shares of Occidental Petroleum (NYSE OXY) traded down $1.40 during midday trading on Thursday, reaching $68.45. 801,134 shares of the company traded hands, compared to its average volume of 4,055,737. Occidental Petroleum has a fifty-two week low of $57.20 and a fifty-two week high of $78.09. The firm has a market capitalization of $53,352.91, a price-to-earnings ratio of 40.01, a P/E/G ratio of 4.47 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.28%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the prior year, the business posted ($0.13) earnings per share. equities research analysts anticipate that Occidental Petroleum will post 2.47 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of OXY. Goodman Financial Corp bought a new stake in shares of Occidental Petroleum during the fourth quarter worth $116,000. Fis Group Inc. bought a new stake in shares of Occidental Petroleum during the third quarter worth $126,000. Enterprise Financial Services Corp increased its position in shares of Occidental Petroleum by 68.5% during the third quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock worth $127,000 after acquiring an additional 806 shares in the last quarter. Trustcore Financial Services LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter worth $153,000. Finally, Field & Main Bank bought a new stake in shares of Occidental Petroleum during the fourth quarter worth $166,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

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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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