Occidental Petroleum (NYSE:OXY – Get Free Report) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.
Other research analysts have also issued research reports about the stock. Wall Street Zen raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. JPMorgan Chase & Co. lowered their target price on Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Morgan Stanley increased their price objective on Occidental Petroleum from $73.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of Occidental Petroleum from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, Truist Financial dropped their price objective on shares of Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $63.74.
Get Our Latest Stock Analysis on Occidental Petroleum
Occidental Petroleum Stock Performance
Occidental Petroleum (NYSE:OXY – Get Free Report) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share 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 business’s revenue was down 8.3% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. As a group, equities analysts anticipate that Occidental Petroleum will post 5.79 EPS for the current fiscal year.
Institutional Investors Weigh In On Occidental Petroleum
Several large investors have recently made changes to their positions in the company. Axiom Investment Management LLC bought a new position in Occidental Petroleum during the 1st quarter valued at about $25,000. GKV Capital Management Co. Inc. bought a new stake in Occidental Petroleum during the 1st quarter worth approximately $26,000. Portus Wealth Advisors LLC bought a new position in Occidental Petroleum in the 1st quarter valued at $29,000. Caitlin John LLC bought a new stake in shares of Occidental Petroleum during the fourth quarter worth $29,000. Finally, Activest Wealth Management lifted its position in Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 305 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.
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.
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