Occidental Petroleum (NYSE:OXY) Price Target Cut to $65.00 by Analysts at UBS Group

Occidental Petroleum (NYSE:OXY) had its price objective dropped by research analysts at UBS Group from $67.00 to $65.00 in a report released on Thursday,MarketScreener reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price objective points to a potential upside of 20.50% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Truist Financial started coverage on shares of Occidental Petroleum in a research report on Tuesday, March 24th. They set a “hold” rating and a $65.00 target price on the stock. HSBC boosted their price objective on shares of Occidental Petroleum from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, March 20th. TD Cowen upped their price objective on shares of Occidental Petroleum from $48.00 to $54.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. Roth Mkm lifted their target price on Occidental Petroleum from $45.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. Finally, Scotiabank boosted their price target on Occidental Petroleum from $46.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.78.

Occidental Petroleum Stock Up 0.0%

Shares of OXY stock traded up $0.00 during trading hours on Thursday, reaching $53.94. The company had a trading volume of 2,615,971 shares, compared to its average volume of 15,493,155. The company has a market capitalization of $53.65 billion, a P/E ratio of 13.59 and a beta of 0.17. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.74 and a current ratio of 1.21. Occidental Petroleum has a twelve month low of $38.80 and a twelve month high of $67.45. The stock’s fifty day simple moving average is $58.02 and its 200 day simple moving average is $48.18.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same period in the previous year, the company posted $0.14 EPS. Occidental Petroleum’s revenue for the quarter was down 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Occidental Petroleum will post 4.77 earnings per share for the current fiscal year.

Institutional Trading of Occidental Petroleum

Several hedge funds and other institutional investors have recently bought and sold shares of OXY. Dimensional Fund Advisors LP raised its stake in Occidental Petroleum by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after buying an additional 1,883,721 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Occidental Petroleum by 44.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,761,082 shares of the oil and gas producer’s stock valued at $374,470,000 after acquiring an additional 1,776,922 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Occidental Petroleum by 54.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock valued at $162,820,000 after acquiring an additional 1,393,638 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Occidental Petroleum by 1,029.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after acquiring an additional 1,361,541 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Occidental Petroleum by 18.9% during the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after purchasing an additional 1,071,948 shares during the last quarter. 88.70% of the stock is 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.