Equities research analysts at Macquarie started coverage on shares of Occidental Petroleum (NYSE:OXY) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “neutral” rating on the oil and gas producer’s stock.

Several other research firms have also weighed in on OXY. Mizuho set a $79.00 price objective on shares of Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $85.00 price objective on the stock in a research note on Thursday, January 4th. Bank of America lowered shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $80.00 price objective on the stock. in a research note on Thursday, January 4th. They noted that the move was a valuation call. ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Credit Suisse Group began coverage on shares of Occidental Petroleum in a research note on Monday, December 11th. They issued a “neutral” rating and a $62.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $67.53.

Shares of Occidental Petroleum (NYSE:OXY) opened at $75.39 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. The company has a market cap of $57,690.00, a P/E ratio of 106.18, a P/E/G ratio of 6.72 and a beta of 0.65. Occidental Petroleum has a 12-month low of $57.20 and a 12-month high of $76.79.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) EPS. research analysts forecast that Occidental Petroleum will post 0.8 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Fis Group Inc. acquired a new position in shares of Occidental Petroleum during the 3rd quarter worth $126,000. Enterprise Financial Services Corp increased its stake in shares of Occidental Petroleum by 68.5% during the 3rd quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock worth $127,000 after purchasing an additional 806 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth $147,000. Atlantic Trust LLC increased its stake in shares of Occidental Petroleum by 23.8% during the 2nd quarter. Atlantic Trust LLC now owns 2,785 shares of the oil and gas producer’s stock worth $154,000 after purchasing an additional 535 shares during the last quarter. Finally, Sandy Spring Bank increased its stake in shares of Occidental Petroleum by 139.4% during the 2nd quarter. Sandy Spring Bank now owns 2,851 shares of the oil and gas producer’s stock worth $171,000 after purchasing an additional 1,660 shares during the last quarter. Institutional investors own 80.24% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Macquarie Begins Coverage on Occidental Petroleum (OXY)” was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://www.dailypolitical.com/2018/01/19/macquarie-begins-coverage-on-occidental-petroleum-oxy.html.

About Occidental Petroleum

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)

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.