Occidental Petroleum (NYSE:OXY) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Occidental Petroleum (NYSE:OXY) had its target price raised by analysts at Jefferies Financial Group from $53.00 to $54.00 in a note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the oil and gas producer’s stock. Jefferies Financial Group’s price objective points to a potential upside of 6.74% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on OXY. Evercore ISI lowered their price target on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Barclays decreased their target price on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Wolfe Research upped their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $56.00 target price on shares of Occidental Petroleum in a research report on Friday. Finally, StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $64.55.

Occidental Petroleum Price Performance

NYSE:OXY traded down $0.22 during trading hours on Tuesday, hitting $50.59. The company’s stock had a trading volume of 6,651,071 shares, compared to its average volume of 9,241,566. The company has a market capitalization of $45.82 billion, a PE ratio of 12.46 and a beta of 1.58. Occidental Petroleum has a 52-week low of $49.51 and a 52-week high of $71.18. The business’s 50-day moving average is $52.07 and its two-hundred day moving average is $57.84. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Insider Buying and Selling

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Occidental Petroleum

Several hedge funds have recently made changes to their positions in the company. Stephens Inc. AR grew its position in Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after purchasing an additional 10,382 shares in the last quarter. Czech National Bank raised its stake in shares of Occidental Petroleum by 8.3% in the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after acquiring an additional 10,456 shares in the last quarter. Discovery Capital Management LLC CT bought a new stake in Occidental Petroleum during the second quarter valued at about $10,331,000. Janney Montgomery Scott LLC lifted its holdings in shares of Occidental Petroleum by 15.2% during the third quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock worth $11,440,000 after buying an additional 29,344 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC acquired a new stake in Occidental Petroleum in the 3rd quarter worth $593,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.