Occidental Petroleum (NYSE:OXY - Get Free Report) had its target price decreased by research analysts at UBS Group from $59.00 to $58.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas producer's stock. UBS Group's target price would suggest a potential upside of 13.21% from the stock's current price.
A number of other analysts have also recently weighed in on the company. Barclays decreased their price objective on Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a "neutral" rating and a $55.00 price objective on the stock. Evercore ISI reduced their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating for the company in a research note on Monday, September 30th. Truist Financial dropped their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a "hold" rating on the stock in a research note on Monday, September 30th. Finally, Wells Fargo & Company lowered their price objective on Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating on the stock in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $63.65.
Check Out Our Latest Stock Report on OXY
OXY stock traded up $1.26 on Monday, hitting $51.23. The company's stock had a trading volume of 6,859,990 shares, compared to its average volume of 9,367,110. Occidental Petroleum has a 1 year low of $48.42 and a 1 year high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.96. The stock has a market cap of $48.07 billion, a price-to-earnings ratio of 13.34 and a beta of 1.58. The firm has a 50 day moving average of $51.80 and a two-hundred day moving average of $57.38.
A number of large investors have recently made changes to their positions in the business. Fortitude Family Office LLC increased its stake in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer's stock valued at $25,000 after purchasing an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the 3rd quarter worth about $32,000. New Covenant Trust Company N.A. acquired a new stake in shares of Occidental Petroleum in the first quarter worth approximately $44,000. LRI Investments LLC purchased a new stake in Occidental Petroleum in the first quarter valued at approximately $44,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in Occidental Petroleum during the third quarter worth approximately $50,000. Hedge funds and other institutional investors own 88.70% of the company's stock.
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.
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