UBS Group Cuts Occidental Petroleum (NYSE:OXY) Price Target to $44.00

Occidental Petroleum (NYSE:OXY) had its target price reduced by UBS Group from $52.00 to $44.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. UBS Group’s price objective would indicate a potential upside of 13.24% from the company’s current price.

Other research analysts have also issued research reports about the stock. Truist Financial boosted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Citigroup decreased their price objective on Occidental Petroleum from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, March 17th. The Goldman Sachs Group downgraded Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Wells Fargo & Company reiterated an “equal weight” rating on shares of Occidental Petroleum in a research note on Friday, February 21st. Finally, StockNews.com lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $59.27.

Occidental Petroleum Stock Down 4.2 %

NYSE OXY traded down $1.68 during midday trading on Monday, hitting $38.86. 20,597,683 shares of the company traded hands, compared to its average volume of 10,457,775. The company has a market cap of $36.52 billion, a PE ratio of 15.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum has a 52 week low of $37.91 and a 52 week high of $71.19. The company’s 50-day simple moving average is $47.88 and its 200-day simple moving average is $49.70.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.13. The company had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $7.14 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. As a group, equities research analysts forecast that Occidental Petroleum will post 3.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Berkshire Hathaway Inc acquired 763,017 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $46.82 per share, for a total transaction of $35,724,455.94. Following the completion of the transaction, the insider now owns 264,941,431 shares in the company, valued at approximately $12,404,557,799.42. The trade was a 0.29 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd acquired a new stake in Occidental Petroleum in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at approximately $27,000. VSM Wealth Advisory LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth $27,000. Bernard Wealth Management Corp. purchased a new stake in Occidental Petroleum in the 4th quarter worth $32,000. Finally, Atala Financial Inc acquired a new position in Occidental Petroleum during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.