Susquehanna Has Lowered Expectations for Occidental Petroleum (NYSE:OXY) Stock Price

Occidental Petroleum (NYSE:OXY) had its target price decreased by equities researchers at Susquehanna from $77.00 to $65.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “positive” rating on the oil and gas producer’s stock. Susquehanna’s price objective indicates a potential upside of 30.18% from the stock’s current price.

OXY has been the topic of several other research reports. Wolfe Research increased their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James lowered their price objective on shares of Occidental Petroleum from $85.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday. BMO Capital Markets cut their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Scotiabank decreased their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Jefferies Financial Group upped their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $63.70.

Occidental Petroleum Price Performance

Occidental Petroleum stock opened at $49.93 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.96. The stock has a market cap of $46.85 billion, a P/E ratio of 13.00 and a beta of 1.58. The company has a 50-day moving average price of $51.84 and a 200 day moving average price of $57.62. Occidental Petroleum has a 12-month low of $48.42 and a 12-month high of $71.18.

Hedge Funds Weigh In On Occidental Petroleum

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

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.