Occidental Petroleum (NYSE:OXY) Given New $55.00 Price Target at Barclays

Occidental Petroleum (NYSE:OXY) had its target price boosted by analysts at Barclays from $50.00 to $55.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas producer’s stock. Barclays‘s target price indicates a potential upside of 4.10% from the stock’s current price.

OXY has been the subject of a number of other research reports. Bank of America increased their price objective on shares of Occidental Petroleum from $44.00 to $45.00 in a research report on Tuesday, January 27th. Weiss Ratings cut Occidental Petroleum from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Mizuho increased their target price on Occidental Petroleum from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 11th. Wall Street Zen downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Finally, HSBC boosted their price target on shares of Occidental Petroleum from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $49.38.

Occidental Petroleum Trading Up 1.9%

Shares of Occidental Petroleum stock traded up $0.99 during trading hours on Monday, hitting $52.83. The company’s stock had a trading volume of 5,710,233 shares, compared to its average volume of 12,311,154. The firm has a fifty day moving average of $43.48 and a 200-day moving average of $43.64. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94. The stock has a market cap of $52.11 billion, a price-to-earnings ratio of 32.82 and a beta of 0.41. Occidental Petroleum has a twelve month low of $34.78 and a twelve month high of $53.33.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.13. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. Occidental Petroleum’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.80 EPS. Research analysts forecast that Occidental Petroleum will post 3.58 EPS for the current year.

Insider Activity

In related news, Director William R. Klesse acquired 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average cost 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 in the company, valued at $8,533,228.74. This represents a 2.34% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.49% of the company’s stock.

Institutional Trading of Occidental Petroleum

Several hedge funds have recently added to or reduced their stakes in the company. Caitlin John LLC purchased a new position in Occidental Petroleum in the fourth quarter worth approximately $29,000. Activest Wealth Management raised its holdings in shares of 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 in the last quarter. Rossby Financial LCC lifted its position in shares of Occidental Petroleum by 155.0% during the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares during the last quarter. City Holding Co. grew its stake in shares of Occidental Petroleum by 250.0% during the third 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. Finally, Binnacle Investments Inc purchased a new position in Occidental Petroleum in the third quarter valued at $35,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.