ValuEngine Upgrades Occidental Petroleum (OXY) to Hold

Occidental Petroleum (NYSE:OXY) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other research firms have also recently weighed in on OXY. KeyCorp assumed coverage on Occidental Petroleum in a research report on Thursday, December 20th. They set an “overweight” rating and a $75.00 price objective on the stock. Argus reaffirmed a “buy” rating and set a $97.00 price objective on shares of Occidental Petroleum in a research report on Monday, November 26th. Morgan Stanley set a $72.00 price objective on Occidental Petroleum and gave the company a “buy” rating in a research report on Thursday, February 14th. Cowen assumed coverage on Occidental Petroleum in a research report on Thursday, November 29th. They set a “market perform” rating and a $80.00 price objective on the stock. Finally, Zacks Investment Research cut Occidental Petroleum from a “buy” rating to a “hold” rating and set a $81.00 price objective on the stock. in a research report on Wednesday, November 14th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Occidental Petroleum currently has an average rating of “Buy” and a consensus target price of $83.32.

NYSE OXY opened at $66.60 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.17 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $51.06 billion, a P/E ratio of 13.29, a price-to-earnings-growth ratio of 1.45 and a beta of 0.88. Occidental Petroleum has a 1 year low of $56.83 and a 1 year high of $87.67.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.10. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. Occidental Petroleum’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. As a group, analysts anticipate that Occidental Petroleum will post 3.18 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Shelton Capital Management lifted its holdings in shares of Occidental Petroleum by 1.8% during the fourth quarter. Shelton Capital Management now owns 8,646 shares of the oil and gas producer’s stock valued at $531,000 after purchasing an additional 152 shares during the last quarter. Taylor Hoffman Wealth Management raised its holdings in Occidental Petroleum by 2.3% in the 4th quarter. Taylor Hoffman Wealth Management now owns 6,647 shares of the oil and gas producer’s stock worth $412,000 after acquiring an additional 152 shares during the last quarter. Sun Life Financial INC raised its holdings in Occidental Petroleum by 1.1% in the 4th quarter. Sun Life Financial INC now owns 17,886 shares of the oil and gas producer’s stock worth $1,098,000 after acquiring an additional 187 shares during the last quarter. Griffin Asset Management Inc. raised its holdings in Occidental Petroleum by 2.3% in the 3rd quarter. Griffin Asset Management Inc. now owns 8,915 shares of the oil and gas producer’s stock worth $733,000 after acquiring an additional 200 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in Occidental Petroleum by 11.5% in the 4th quarter. Parallel Advisors LLC now owns 2,051 shares of the oil and gas producer’s stock worth $125,000 after acquiring an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 79.78% of the company’s stock.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three 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 (NGLs), and natural gas.

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Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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