Is Now The Right Time To Bet On Occidental Petroleum Corporation (OXY)?

Marco Green
May 20, 2017

Jefferies Group LLC now has a $70.00 target price on the oil and gas producer's stock. They now have a United States dollars 75 price target on the stock.

A number of other equities analysts have also weighed in on the stock. Finally, JPMorgan Chase & Co. raised shares of Occidental Petroleum from an "underweight" rating to a "neutral" rating and increased their target price for the company from $66.00 to $67.00 in a report on Wednesday, May 10th. Mizuho had a markedly different take on 13/02/2017, proposing that Occidental Petroleum Corporation is now considered Neutral versus prior Buy rating. Evercore ISI lowered shares of Occidental Petroleum to a "buy" rating in a report on Friday, March 3rd.

Among 17 analysts covering Zayo Group Holdings (NYSE:ZAYO), 11 have Buy rating, 1 Sell and 5 Hold. They now have a Dollars 80 price target on the stock. Family Capital Tru Com invested 0% in Occidental Petroleum Corporation (NYSE:OXY). In terms of the stock price in relation to its moving averages, company shares are -0.08% away from the 20-day moving average and -2.58% off of the 50-day average. Occidental Petroleum has a 12-month low of $57.20 and a 12-month high of $78.48. The firm's market cap is $46.10 billion.

More notable recent Occidental Petroleum Corporation (NYSE:OXY) news were published by: which released: "Occidental Petroleum upgraded at J.P. Morgan on valuation" on May 10, 2017, also with their article: "Occidental Petroleum to Test a Massive Ship for US Oil Exports" published on May 10, 2017, published: "Occidental Petroleum (OXY) Beats Q1 Earnings Estimates" on May 04, 2017. Permian Investment Partners Lp sold 242,800 shares as Zayo Group Hldgs Inc (ZAYO)'s stock 0.00%. Looking further, Occidental Petroleum Corporation has a Gross Margin score of 40. The business had revenue of $2.98 billion during the quarter, compared to analysts' expectations of $2.96 billion. They expect $0.36 earnings per share, up 12.50% or $0.04 from last year's $0.32 per share. The Towerview Llc holds 30,000 shares with $2.14M value, down from 40,000 last quarter.

Currently Occidental Petroleum Corp (NYSE:OXY)'s shares owned by insiders are 0.2%, whereas shares owned by institutional owners are 86.5%.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. The ex-dividend date is Wednesday, June 7th. A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range. Occidental Petroleum Corporation (NYSE:OXY) has risen 6.00% since April 18, 2017 and is uptrending.

WARNING: This piece was posted by BBNS and is the property of of BBNS. The correct version of this report can be read at The stock's average target of $73.60 is 21.19% above today's ($60.73) share price. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Shares for $940,800 were bought by Hollub Vicki A. on Monday, March 13. Following the sale, the director now directly owns 1,500,619 shares in the company, valued at approximately $98,275,538.31. The disclosure for this purchase can be found here. Manufacturers Life Insur The accumulated 3.42 million shares or 0.35% of the stock. The stock rose 1.01% or $0.61 reaching $60.9.

Several institutional investors have recently made changes to their positions in OXY. Apriem Advisors increased its position in shares of Occidental Petroleum by 24.8% in the third quarter. Its book value per share for the most recent quarter is $27.58 while its price to book ratio for the same period is 2.22, as for as the company's cash per share for the most recent quarter is $1.95, however its price to cash per share ratio for the same period is 31.48. Huntington National Bank raised its stake in Occidental Petroleum by 56.3% in the third quarter.

Lombard Odier Asset Management Switzerland Sa decreased Vail Resorts Inc (NYSE:MTN) stake by 6,000 shares to 114,000 valued at $18.39 million in 2016Q4. Enterprise Financial Services Corp now owns 1,553 shares of the oil and gas producer's stock worth $113,000 after buying an additional 414 shares during the period. Ftb invested 0.02% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY). Finally, Parallel Advisors LLC bought a new stake in Occidental Petroleum during the fourth quarter valued at about $121,000. The Firm operates through three divisions: gas and oil, chemical (OxyChem), and midstream and marketing.

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