Occidental Petroleum Corporation (NYSE:OXY) received a $55.00 target price from Piper Jaffray Companies in a report released on Friday. The firm presently has a “hold” rating on the oil and gas producer’s stock. Piper Jaffray Companies’ price target would indicate a potential downside of 7.13% from the company’s previous close.
Several other research analysts have also weighed in on OXY. Scotiabank reiterated a “hold” rating and issued a $68.00 price objective on shares of Occidental Petroleum Corporation in a research report on Friday, May 5th. BMO Capital Markets set a $65.00 price objective on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Thursday, May 4th. Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 price objective on shares of Occidental Petroleum Corporation in a research report on Friday, May 5th. J P Morgan Chase & Co upgraded Occidental Petroleum Corporation from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $66.00 to $67.00 in a research report on Wednesday, May 10th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $80.00 price objective (down from $83.00) on shares of Occidental Petroleum Corporation in a research report on Thursday, May 11th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $65.57.
Shares of Occidental Petroleum Corporation (OXY) traded up 0.15% during mid-day trading on Friday, reaching $59.22. The company’s stock had a trading volume of 1,925,903 shares. The company has a 50-day moving average price of $60.41 and a 200 day moving average price of $61.97. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $78.48. The company has a market cap of $45.28 billion, a PE ratio of 417.04 and a beta of 0.65.
Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.18) earnings per share. Equities analysts expect that Occidental Petroleum Corporation will post $0.66 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: “Piper Jaffray Companies Analysts Give Occidental Petroleum Corporation (OXY) a $55.00 Price Target” was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this story on another website, it was illegally copied and republished in violation of United States and international copyright laws. The correct version of this story can be viewed at https://stocknewstimes.com/2017/08/26/piper-jaffray-companies-analysts-give-occidental-petroleum-corporation-oxy-a-55-00-price-target.html.
In related news, Director William R. Klesse acquired 10,000 shares of Occidental Petroleum Corporation stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now owns 70,692 shares in the company, valued at $4,353,213.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Cedric W. Burgher acquired 1,700 shares of Occidental Petroleum Corporation stock in a transaction dated Wednesday, June 7th. The stock was bought at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the purchase, the chief financial officer now owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Occidental Petroleum Corporation during the first quarter valued at about $102,000. Grove Bank & Trust boosted its stake in shares of Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 622 shares during the last quarter. Mosaic Family Wealth LLC boosted its stake in shares of Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 72 shares during the last quarter. Oakworth Capital Inc. boosted its stake in shares of Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after buying an additional 250 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 264 shares during the last quarter. Institutional investors and hedge funds own 81.42% of the company’s stock.
Occidental Petroleum Corporation Company Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
Receive News & Ratings for Occidental Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
