Occidental Petroleum (NYSE:OXY) Given New $75.00 Price Target at Mizuho

Occidental Petroleum (NYSE:OXY) had its price objective hoisted by stock analysts at Mizuho from $72.00 to $75.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the oil and gas producer’s stock. Mizuho’s price target suggests a potential upside of 30.12% from the company’s current price.

OXY has been the topic of a number of other reports. Truist Financial cut their price objective on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research note on Friday, May 8th. Capital One Financial cut their price target on shares of Occidental Petroleum from $69.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, April 13th. TD Cowen boosted their price objective on Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Wolfe Research boosted their target price on Occidental Petroleum from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Finally, Stephens raised their target price on Occidental Petroleum from $59.00 to $74.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $63.61.

Occidental Petroleum Stock Down 2.0%

Shares of NYSE OXY opened at $57.64 on Wednesday. The firm has a fifty day moving average of $58.94 and a 200-day moving average of $49.69. The stock has a market capitalization of $57.33 billion, a PE ratio of 14.52 and a beta of 0.17. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum has a 52-week low of $38.80 and a 52-week high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating the consensus estimate of $0.60 by $0.46. The company had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The firm’s revenue was down 8.3% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. On average, analysts anticipate that Occidental Petroleum will post 5.33 EPS for the current year.

Institutional Trading of Occidental Petroleum

A number of hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Occidental Petroleum by 21.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after acquiring an additional 1,883,721 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Occidental Petroleum by 44.6% during the first quarter. Bank of New York Mellon Corp now owns 5,761,082 shares of the oil and gas producer’s stock valued at $374,470,000 after buying an additional 1,776,922 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Occidental Petroleum by 54.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,959,638 shares of the oil and gas producer’s stock worth $162,820,000 after acquiring an additional 1,393,638 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Occidental Petroleum by 1,029.9% during the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock valued at $70,580,000 after acquiring an additional 1,361,541 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Occidental Petroleum by 247.0% in the first quarter. Sei Investments Co. now owns 1,734,052 shares of the oil and gas producer’s stock valued at $112,719,000 after purchasing an additional 1,234,350 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Company Profile

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.