Occidental Petroleum (NYSE:OXY) had its target price raised by equities researchers at Wells Fargo & Company from $29.00 to $34.00 in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage currently has an “equal weight” rating on the oil and gas producer’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 5.33% from the stock’s previous close.
Other research analysts have also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of Occidental Petroleum from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Wednesday, October 6th. Citigroup began coverage on shares of Occidental Petroleum in a research note on Monday, August 30th. They issued a “buy” rating and a $35.00 price target for the company. Raymond James dropped their price target on shares of Occidental Petroleum from $40.00 to $35.00 and set a “strong-buy” rating for the company in a research note on Tuesday, August 24th. Mizuho lifted their price target on shares of Occidental Petroleum from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, July 15th. Finally, Truist boosted their target price on shares of Occidental Petroleum from $27.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, October 7th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $30.04.
OXY opened at $32.28 on Thursday. The company’s 50 day simple moving average is $27.17 and its 200 day simple moving average is $27.16. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.15 and a current ratio of 1.34. Occidental Petroleum has a 1 year low of $8.52 and a 1 year high of $34.57. The stock has a market capitalization of $30.14 billion, a PE ratio of -5.43, a P/E/G ratio of 0.52 and a beta of 2.46.
In other Occidental Petroleum news, Director Stephen I. Chazen purchased 20,000 shares of the company’s stock in a transaction on Monday, August 9th. The shares were purchased at an average cost of $25.76 per share, for a total transaction of $515,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of OXY. Red Door Wealth Management LLC bought a new stake in Occidental Petroleum in the second quarter worth about $26,000. Cypress Capital Management LLC WY acquired a new stake in Occidental Petroleum during the 2nd quarter worth about $30,000. Arkadios Wealth Advisors raised its holdings in Occidental Petroleum by 194.0% during the 2nd quarter. Arkadios Wealth Advisors now owns 1,035 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 683 shares during the period. Solstein Capital LLC acquired a new stake in Occidental Petroleum during the 1st quarter worth about $40,000. Finally, Corsicana & Co. acquired a new stake in Occidental Petroleum during the 2nd quarter worth about $64,000. Hedge funds and other institutional investors own 68.71% of the company’s stock.
Occidental Petroleum Company Profile
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas.
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