Brokerages Set Occidental Petroleum Co. (OXY) PT at $73.66
Shares of Occidental Petroleum Co. (NYSE:OXY) have earned a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $73.66.
A number of equities research analysts recently issued reports on the stock. Wells Fargo & Co reiterated an “outperform” rating on shares of Occidental Petroleum in a research report on Saturday, January 14th. Barclays PLC dropped their target price on shares of Occidental Petroleum from $63.00 to $62.00 and set an “underweight” rating for the company in a research report on Thursday, January 26th. Evercore ISI cut shares of Occidental Petroleum to a “buy” rating in a research report on Friday, March 3rd. Goldman Sachs Group Inc upgraded shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $75.00 target price for the company in a research report on Friday, December 16th. Finally, Credit Suisse Group AG upgraded shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $70.00 to $79.00 in a research report on Tuesday, March 14th. They noted that the move was a valuation call.
In other Occidental Petroleum news, Director William R. Klesse purchased 10,000 shares of the stock in a transaction dated Friday, December 23rd. The stock was bought at an average price of $72.15 per share, for a total transaction of $721,500.00. Following the transaction, the director now directly owns 57,940 shares in the company, valued at $4,180,371. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vicki A. Hollub purchased 15,000 shares of the stock in a transaction dated Monday, March 13th. The shares were acquired at an average price of $62.72 per share, with a total value of $940,800.00. Following the transaction, the insider now owns 76,018 shares in the company, valued at $4,767,848.96. The disclosure for this purchase can be found here. Insiders sold a total of 52,000 shares of company stock valued at $3,529,480 in the last 90 days. Corporate insiders own 0.35% of the company’s stock.
Several large investors have recently modified their holdings of the company. Apriem Advisors boosted its stake in Occidental Petroleum by 24.8% in the third quarter. Apriem Advisors now owns 1,522 shares of the company’s stock valued at $111,000 after buying an additional 302 shares in the last quarter. Financial Architects Inc boosted its stake in Occidental Petroleum by 47.5% in the third quarter. Financial Architects Inc now owns 1,524 shares of the company’s stock valued at $112,000 after buying an additional 491 shares in the last quarter. Enterprise Financial Services Corp boosted its stake in Occidental Petroleum by 36.3% in the third quarter. Enterprise Financial Services Corp now owns 1,553 shares of the company’s stock valued at $113,000 after buying an additional 414 shares in the last quarter. Oakworth Capital Inc. boosted its stake in Occidental Petroleum by 4.9% in the third quarter. Oakworth Capital Inc. now owns 1,596 shares of the company’s stock valued at $116,000 after buying an additional 75 shares in the last quarter. Finally, Parallel Advisors LLC acquired a new stake in Occidental Petroleum during the fourth quarter valued at about $121,000. Institutional investors own 80.07% of the company’s stock.
Shares of Occidental Petroleum (NYSE:OXY) opened at 63.66 on Thursday. Occidental Petroleum has a 1-year low of $61.01 and a 1-year high of $78.48. The firm’s market capitalization is $48.65 billion. The company’s 50-day moving average is $65.97 and its 200 day moving average is $69.97.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Thursday, February 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by $0.10. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.70 billion. Occidental Petroleum had a negative return on equity of 3.40% and a negative net margin of 5.52%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.17) EPS. On average, analysts expect that Occidental Petroleum will post $1.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 10th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Wednesday, March 8th. Occidental Petroleum’s payout ratio is presently -400.00%.
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About Occidental Petroleum
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.
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