Occidental Petroleum (NYSE:OXY) Stock Price Expected to Rise, UBS Group Analyst Says

Occidental Petroleum (NYSE:OXY) had its price objective lifted by analysts at UBS Group from $54.00 to $56.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s target price indicates a potential upside of 11.08% from the company’s current price.

Other analysts also recently issued research reports about the company. Mizuho decreased their price target on Occidental Petroleum from $72.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Raymond James upped their price target on Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 21st. Susquehanna decreased their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Finally, Truist Financial boosted their price objective on Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $61.90.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $50.42 on Thursday. The business’s 50-day moving average price is $49.20 and its two-hundred day moving average price is $51.41. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum has a one year low of $45.17 and a one year high of $71.18. The company has a market capitalization of $47.31 billion, a P/E ratio of 20.66 and a beta of 1.55.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.13. The company had revenue of $6.84 billion during the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. Analysts anticipate that Occidental Petroleum will post 3.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Occidental Petroleum

In related news, major shareholder Berkshire Hathaway Inc bought 763,017 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was acquired at an average cost of $46.82 per share, with a total value of $35,724,455.94. Following the acquisition, the insider now owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. This represents a 0.29 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 6,854,394 shares of company stock valued at $315,101,532 in the last quarter. Corporate insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC raised its holdings in shares of Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter worth approximately $27,000. VSM Wealth Advisory LLC bought a new stake in Occidental Petroleum during the 4th quarter worth approximately $27,000. Finally, Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum during the 3rd quarter worth approximately $32,000. 88.70% of the stock is owned by institutional investors and hedge funds.

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.