Occidental Petroleum (NYSE:OXY) Price Target Raised to $74.00 at Stephens
by Kim Johansen · The Markets DailyOccidental Petroleum (NYSE:OXY – Get Free Report) had its target price raised by equities research analysts at Stephens from $59.00 to $74.00 in a report released on Tuesday,MarketScreener reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. Stephens’ price target indicates a potential upside of 18.96% from the company’s current price.
A number of other research firms also recently weighed in on OXY. Barclays raised their price target on shares of Occidental Petroleum from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Monday, March 16th. UBS Group increased their price objective on shares of Occidental Petroleum from $49.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Mizuho raised their target price on shares of Occidental Petroleum from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. HSBC boosted their target price on shares of Occidental Petroleum from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Finally, Zacks Research upgraded Occidental Petroleum from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. Eight analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $58.83.
Check Out Our Latest Stock Analysis on OXY
Occidental Petroleum Price Performance
Shares of Occidental Petroleum stock traded down $2.80 during trading on Tuesday, reaching $62.20. 22,512,792 shares of the company’s stock were exchanged, compared to its average volume of 16,198,950. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.94. Occidental Petroleum has a 1-year low of $34.78 and a 1-year high of $67.45. The company has a market cap of $61.69 billion, a P/E ratio of 38.60 and a beta of 0.34. The firm’s 50-day moving average price is $52.07 and its 200 day moving average price is $45.87.
Occidental Petroleum (NYSE:OXY – Get Free Report) last released its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.13. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $6.02 billion. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.Occidental Petroleum’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. As a group, research analysts anticipate that Occidental Petroleum will post 3.58 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. City Holding Co. grew its holdings in 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 acquiring an additional 500 shares during the period. Caitlin John LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at $29,000. Activest Wealth Management increased its stake in Occidental Petroleum by 68.5% during 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. Binnacle Investments Inc bought a new position in shares of Occidental Petroleum in the third quarter valued at $35,000. Finally, Rossby Financial LCC increased its position in shares of Occidental Petroleum by 155.0% during the fourth quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 465 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.
Key Stories Impacting Occidental Petroleum
Here are the key news stories impacting Occidental Petroleum this week:
- Positive Sentiment: Sale of OxyChem to Berkshire closed — proceeds will be used to strengthen Occidental’s balance sheet and let the company refocus on core oil & gas operations, reducing leverage risk. Read More.
- Positive Sentiment: Earnings estimates and analyst interest improving — recent analyst upgrades/coverage and Zacks notes that consensus earnings estimates have been revised higher, supporting medium‑term upside potential. Read More.
- Positive Sentiment: Citigroup raised OXY’s price target to $67 (neutral rating) — this provides incremental support to the stock’s upside case from an institutional research perspective. Read More.
- Neutral Sentiment: Valuation check after recent run — coverage notes OXY has had strong longer‑term returns but mixed short‑term moves; investors are re‑assessing fair value after the rally. Read More.
- Neutral Sentiment: Featured in screens and “near‑52‑week high” lists — increased visibility can attract momentum traders but does not guarantee continued gains. Read More.
- Negative Sentiment: Crude oil pulled back as markets priced in reduced Iran conflict risk and U.S. industry data signaled a large weekly crude build — the drop in oil removed the recent war‑risk premium and triggered profit‑taking in oil‑levered names, pressuring OXY. Read More.
- Negative Sentiment: Large institutional rebalancing — recent filings show several big managers trimming OXY materially, which can amplify intraday selling pressure and increase volatility. Read More.
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.