Occidental Petroleum (NYSE:OXY) Coverage Initiated by Analysts at Oppenheimer

Analysts at Oppenheimer started coverage on shares of Occidental Petroleum (NYSE:OXY) in a research report issued to clients and investors on Wednesday, March 27th, The Fly reports. The brokerage set a “market perform” rating on the oil and gas producer’s stock. Oppenheimer also issued estimates for Occidental Petroleum’s Q1 2019 earnings at $0.57 EPS, Q2 2019 earnings at $0.75 EPS, Q3 2019 earnings at $0.86 EPS, Q4 2019 earnings at $0.88 EPS, FY2019 earnings at $3.06 EPS, Q1 2020 earnings at $0.84 EPS, Q2 2020 earnings at $0.82 EPS, Q3 2020 earnings at $0.87 EPS, Q4 2020 earnings at $0.90 EPS and FY2020 earnings at $3.43 EPS.

Other analysts also recently issued research reports about the stock. Cowen started coverage on shares of Occidental Petroleum in a report on Thursday, November 29th. They issued a “market perform” rating and a $80.00 target price on the stock. KeyCorp started coverage on shares of Occidental Petroleum in a report on Thursday, December 20th. They issued an “overweight” rating and a $75.00 target price on the stock. Capital One Financial downgraded shares of Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. Atlantic Securities raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and set a $85.00 target price on the stock in a report on Friday, December 21st. Finally, Zacks Investment Research downgraded shares of Occidental Petroleum from a “hold” rating to a “strong sell” rating in a report on Friday, January 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $83.80.

Shares of NYSE OXY traded down $0.83 during mid-day trading on Wednesday, reaching $61.82. The company had a trading volume of 8,481,040 shares, compared to its average volume of 5,207,690. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.34 and a quick ratio of 1.17. The company has a market capitalization of $46.23 billion, a price-to-earnings ratio of 12.34, a price-to-earnings-growth ratio of 1.17 and a beta of 0.83. Occidental Petroleum has a 52-week low of $56.83 and a 52-week 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 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.10. Occidental Petroleum had a net margin of 21.87% and a return on equity of 18.17%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the firm posted $0.41 EPS. The company’s revenue was up 33.8% on a year-over-year basis. As a group, sell-side analysts forecast that Occidental Petroleum will post 3.62 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. We Are One Seven LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $25,000. Country Trust Bank raised its position in Occidental Petroleum by 434.6% during the fourth quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock worth $26,000 after acquiring an additional 339 shares during the last quarter. Pinnacle Bank acquired a new position in Occidental Petroleum during the fourth quarter worth about $28,000. Heritage Trust Co raised its position in Occidental Petroleum by 496.2% during the fourth quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 387 shares during the last quarter. Finally, Sontag Advisory LLC acquired a new position in Occidental Petroleum during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.

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The Fly

Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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