Susquehanna Lowers Occidental Petroleum (NYSE:OXY) Price Target to $65.00

Occidental Petroleum (NYSE:OXY) had its price objective lowered by stock analysts at Susquehanna from $77.00 to $65.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas producer’s stock. Susquehanna’s target price would suggest a potential upside of 27.15% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. BMO Capital Markets lowered their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. TD Cowen dropped their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday. Evercore ISI lowered their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. Truist Financial cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $63.70.

Occidental Petroleum Trading Up 1.7 %

Shares of OXY opened at $51.12 on Thursday. The firm has a market capitalization of $46.30 billion, a PE ratio of 13.31 and a beta of 1.58. Occidental Petroleum has a 12-month low of $48.42 and a 12-month high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The stock’s fifty day simple moving average is $51.97 and its 200-day simple moving average is $57.72.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Fortitude Family Office LLC increased its stake in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 304 shares during the period. Mizuho Securities Co. Ltd. bought a new position in Occidental Petroleum during the 3rd quarter worth $32,000. New Covenant Trust Company N.A. acquired a new stake in shares of Occidental Petroleum during the first quarter worth $44,000. LRI Investments LLC bought a new stake in shares of Occidental Petroleum in the first quarter valued at about $44,000. Finally, Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum in the third quarter valued at about $50,000. 88.70% of the stock is owned by institutional investors.

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.