Occidental Petroleum (NYSE:OXY) Price Target Cut to $48.00 by Analysts at BMO Capital Markets

Occidental Petroleum (NYSE:OXY) had its price target dropped by analysts at BMO Capital Markets from $50.00 to $48.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm currently has a “market perform” rating on the oil and gas producer’s stock. BMO Capital Markets’ target price points to a potential upside of 11.16% from the stock’s current price.

OXY has been the subject of a number of other research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 target price on shares of Occidental Petroleum in a research note on Tuesday, November 25th. Scotiabank upped their price target on Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Evercore ISI lowered their price objective on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research note on Friday, October 3rd. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, HSBC reduced their price target on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.48.

Occidental Petroleum Stock Down 2.6%

OXY traded down $1.14 during trading on Monday, reaching $43.18. The stock had a trading volume of 14,129,595 shares, compared to its average volume of 13,249,895. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $42.54 billion, a price-to-earnings ratio of 31.75 and a beta of 0.38. The stock’s 50 day moving average is $41.46 and its two-hundred day moving average is $43.38. Occidental Petroleum has a one year low of $34.78 and a one year high of $52.78.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. The firm had revenue of $6.62 billion for the quarter, compared to the consensus estimate of $6.66 billion. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.00 EPS. As a group, analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current year.

Insider Buying and Selling

In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was acquired at an average price of $38.98 per share, with a total value of $194,900.00. Following the transaction, the director owned 218,913 shares in the company, valued at $8,533,228.74. This represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

A number of large investors have recently made changes to their positions in OXY. Vanguard Group Inc. raised its holdings in Occidental Petroleum by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 89,201,540 shares of the oil and gas producer’s stock worth $4,214,773,000 after purchasing an additional 697,521 shares during the period. State Street Corp increased its position in Occidental Petroleum by 1.6% in the second quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock worth $1,649,147,000 after buying an additional 615,566 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Occidental Petroleum by 22.0% in the second quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock worth $756,796,000 after buying an additional 3,267,269 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Occidental Petroleum by 11.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 8,718,939 shares of the oil and gas producer’s stock valued at $412,045,000 after buying an additional 900,677 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can grew its stake in shares of Occidental Petroleum by 0.5% during the 2nd quarter. Fairfax Financial Holdings Ltd. Can now owns 6,050,418 shares of the oil and gas producer’s stock valued at $254,118,000 after acquiring an additional 30,000 shares during the period. 88.70% of the stock is currently owned by institutional investors.

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.