Occidental Petroleum (NYSE:OXY) Price Target Raised to $57.00 at Scotiabank

Occidental Petroleum (NYSE:OXY) had its target price hoisted by Scotiabank from $46.00 to $57.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the oil and gas producer’s stock. Scotiabank’s price target suggests a potential upside of 0.17% from the company’s previous close.

OXY has been the topic of several other research reports. Roth Mkm boosted their target price on shares of Occidental Petroleum from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Wall Street Zen upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 31st. Susquehanna boosted their price target on shares of Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a research report on Tuesday. Finally, UBS Group boosted their price target on shares of Occidental Petroleum from $64.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. One investment 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $61.83.

Occidental Petroleum Price Performance

NYSE:OXY traded up $0.57 during trading hours on Wednesday, hitting $56.90. 5,530,245 shares of the stock traded hands, compared to its average volume of 16,056,494. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. Occidental Petroleum has a 1 year low of $38.72 and a 1 year high of $67.45. The company has a market cap of $56.43 billion, a price-to-earnings ratio of 35.32 and a beta of 0.23. The stock has a 50 day moving average price of $56.18 and a 200 day moving average price of $47.15.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results 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. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts forecast that Occidental Petroleum will post 3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Lighthouse Investment Partners LLC bought a new position in Occidental Petroleum during the third quarter valued at $22,345,000. DNB Asset Management AS increased its position in Occidental Petroleum by 100.3% during the third quarter. DNB Asset Management AS now owns 267,807 shares of the oil and gas producer’s stock valued at $12,654,000 after acquiring an additional 134,128 shares during the last quarter. Swedbank AB bought a new position in Occidental Petroleum during the third quarter valued at $35,517,000. Mirabella Financial Services LLP increased its position in Occidental Petroleum by 154.7% during the third quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer’s stock valued at $1,394,000 after acquiring an additional 17,958 shares during the last quarter. Finally, Gifford Fong Associates increased its position in Occidental Petroleum by 41.2% during the third quarter. Gifford Fong Associates now owns 171,429 shares of the oil and gas producer’s stock valued at $8,100,000 after acquiring an additional 50,000 shares during 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: Zacks upgraded OXY to a Zacks Rank #1 (Strong Buy), signaling rising analyst optimism about near?term earnings and likely prompting retail and model?driven buying. Article Title
• Positive Sentiment: Susquehanna raised its price target on OXY to $67 (from $60) and kept a positive rating, implying roughly mid?teens upside from recent levels and supporting further analyst?led buying. Article Title
• Positive Sentiment: Coverage noting Warren Buffett/Berkshire’s large energy position keeps OXY in the spotlight; commentary that the stock has “crushed the market” this year attracts momentum investors. Article Title
• Positive Sentiment: Analyst/ bullish pieces (e.g., Seeking Alpha) advocate buying dips in OXY, reinforcing conviction among income and value investors. Article Title
• Neutral Sentiment: OXY is a “trending” stock on Zacks/Yahoo — more eyeballs can amplify moves in either direction but doesn’t guarantee sustained fundamentals-driven gains. Article Title
• Neutral Sentiment: Macro/sector commentary (e.g., Tom Lee / Fundstrat pieces) highlights energy as a leading sector in the market bounce — that tailwind helps OXY but is broader than company?specific fundamentals. Article Title
• Negative Sentiment: Some coverage raises valuation and fundamental cautions (revenue weakness and volatility); the “1 reason to stay skeptical” theme may restrain conviction if earnings or cash?flow underperform. Article Title

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.