Occidental Petroleum (NYSE:OXY) has been assigned a $85.00 price target by equities research analysts at Cowen in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the oil and gas producer’s stock. Cowen’s price target would suggest a potential upside of 12.51% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Credit Suisse Group initiated coverage on Occidental Petroleum in a report on Monday, December 11th. They issued a “neutral” rating and a $62.00 target price for the company. Bank of America increased their target price on Occidental Petroleum from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Jefferies Group increased their target price on Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Finally, Barclays increased their target price on Occidental Petroleum from $38.00 to $40.00 and gave the stock an “underweight” rating in a report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, thirteen 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 an average rating of “Hold” and a consensus target price of $67.87.

Occidental Petroleum (OXY) opened at $75.55 on Thursday. Occidental Petroleum has a twelve month low of $57.20 and a twelve month high of $76.79. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $57,810.00, a P/E ratio of 106.41, a PEG ratio of 6.39 and a beta of 0.65.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Viking Fund Management LLC boosted its position in Occidental Petroleum by 5.8% in the 4th quarter. Viking Fund Management LLC now owns 48,600 shares of the oil and gas producer’s stock valued at $3,580,000 after buying an additional 2,650 shares during the last quarter. Personal Capital Advisors Corp boosted its position in Occidental Petroleum by 20.6% in the 4th quarter. Personal Capital Advisors Corp now owns 219,038 shares of the oil and gas producer’s stock valued at $16,134,000 after buying an additional 37,356 shares during the last quarter. Cibc Bank USA boosted its position in Occidental Petroleum by 2.3% in the 4th quarter. Cibc Bank USA now owns 47,184 shares of the oil and gas producer’s stock valued at $3,476,000 after buying an additional 1,061 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Occidental Petroleum by 332.6% in the 4th quarter. State of Alaska Department of Revenue now owns 126,461 shares of the oil and gas producer’s stock valued at $9,313,000 after buying an additional 97,226 shares during the last quarter. Finally, Endurance Wealth Management Inc. boosted its position in Occidental Petroleum by 2.1% in the 4th quarter. Endurance Wealth Management Inc. now owns 121,118 shares of the oil and gas producer’s stock valued at $8,921,000 after buying an additional 2,468 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

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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)

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