Occidental Petroleum (NYSE:OXY) Rating Increased to Hold at TD Cowen

TD Cowen upgraded shares of Occidental Petroleum (NYSE:OXY) to a hold rating in a report released on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the company. UBS Group lowered their price target on Occidental Petroleum from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, December 12th. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. Piper Sandler increased their price target on shares of Occidental Petroleum from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, January 28th. Jefferies Financial Group lowered their price objective on shares of Occidental Petroleum from $44.00 to $42.00 and set a “hold” rating on the stock in a research note on Tuesday, January 20th. Finally, Morgan Stanley cut their target price on shares of Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $47.48.

Occidental Petroleum Stock Down 0.9%

Occidental Petroleum stock traded down $0.42 during mid-day trading on Monday, reaching $46.24. The company’s stock had a trading volume of 1,259,898 shares, compared to its average volume of 11,504,893. The business’s 50 day simple moving average is $42.45 and its 200 day simple moving average is $43.42. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. Occidental Petroleum has a 12 month low of $34.78 and a 12 month high of $52.58. The company has a market capitalization of $45.56 billion, a price-to-earnings ratio of 34.04 and a beta of 0.41.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 EPS. As a group, research analysts anticipate that Occidental Petroleum will post 3.58 earnings per share for the current year.

Insider Activity

In other news, Director William R. Klesse bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The shares were bought at an average price of $38.98 per share, with a total value of $194,900.00. Following the completion of the transaction, the director owned 218,913 shares of the company’s stock, valued at $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Occidental Petroleum

Several institutional investors have recently added to or reduced their stakes in OXY. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Occidental Petroleum in the second quarter valued at about $27,000. Activest Wealth Management boosted its holdings in Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares during the period. City Holding Co. grew its position in shares of Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Binnacle Investments Inc bought a new position in shares of Occidental Petroleum during the third quarter worth approximately $35,000. Finally, Hantz Financial Services Inc. raised its position in shares of Occidental Petroleum by 1,193.9% in the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 788 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.