Occidental Petroleum Corporation (NYSE:OXY) was upgraded by investment analysts at The Goldman Sachs Group, Inc. from a “neutral” rating to a “conviction-buy” rating in a research note issued to investors on Friday.

OXY has been the topic of a number of other research reports. Morgan Stanley increased their target price on shares of Occidental Petroleum Corporation from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 18th. Jefferies Group LLC set a $58.00 target price on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 29th. BidaskClub lowered shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. BMO Capital Markets set a $60.00 target price on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Finally, Barclays PLC increased their target price on shares of Occidental Petroleum Corporation from $38.00 to $40.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $66.07.

Occidental Petroleum Corporation (NYSE OXY) opened at $67.17 on Friday. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $73.51. The stock has a market cap of $51,018.91, a P/E ratio of 190.49, a price-to-earnings-growth ratio of 14.20 and a beta of 0.63. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45.

Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.07. Occidental Petroleum Corporation had a net margin of 4.33% and a return on equity of 1.31%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the business posted ($0.15) EPS. The business’s revenue was up 13.3% compared to the same quarter last year. sell-side analysts expect that Occidental Petroleum Corporation will post 0.72 earnings per share for the current year.

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Several hedge funds have recently added to or reduced their stakes in OXY. Arosa Capital Management LP bought a new position in shares of Occidental Petroleum Corporation during the first quarter valued at $12,208,000. Thrivent Financial For Lutherans raised its stake in Occidental Petroleum Corporation by 4.3% during the first quarter. Thrivent Financial For Lutherans now owns 28,636 shares of the oil and gas producer’s stock worth $1,819,000 after buying an additional 1,190 shares during the last quarter. Foresters Investment Management Company Inc. raised its stake in Occidental Petroleum Corporation by 2.4% during the first quarter. Foresters Investment Management Company Inc. now owns 253,275 shares of the oil and gas producer’s stock worth $16,048,000 after buying an additional 5,900 shares during the last quarter. Global X Management Co. LLC raised its stake in Occidental Petroleum Corporation by 27.2% during the first quarter. Global X Management Co. LLC now owns 13,051 shares of the oil and gas producer’s stock worth $827,000 after buying an additional 2,789 shares during the last quarter. Finally, Edgar Lomax Co. VA raised its stake in Occidental Petroleum Corporation by 27.7% during the first quarter. Edgar Lomax Co. VA now owns 135,624 shares of the oil and gas producer’s stock worth $8,593,000 after buying an additional 29,412 shares during the last quarter. 80.29% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Corporation Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Occidental Petroleum Corporation (NYSE:OXY)

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