Occidental Petroleum Corporation (OXY) Receives Consensus Rating of “Hold” from Analysts
Shares of Occidental Petroleum Corporation (NYSE:OXY) have been given an average rating of “Hold” by the eighteen analysts that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $66.38.
Several equities analysts recently commented on the company. Bank of America Corporation reiterated a “buy” rating and issued a $80.00 target price (down from $83.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, May 11th. Mitsubishi UFJ Financial Group assumed coverage on Occidental Petroleum Corporation in a research note on Monday, May 29th. They issued a “hold” rating and a $69.00 target price for the company. Cowen and Company reiterated a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum Corporation in a research note on Tuesday, May 23rd. Wolfe Research upgraded Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Finally, Zacks Investment Research lowered Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th.
Occidental Petroleum Corporation (NYSE:OXY) opened at 58.92 on Friday. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48. The stock’s 50 day moving average price is $60.55 and its 200-day moving average price is $62.36. The stock has a market capitalization of $45.05 billion, a PE ratio of 414.93 and a beta of 0.65.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the firm posted ($0.18) earnings per share. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. Analysts expect that Occidental Petroleum Corporation will post $0.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio is 2,338.46%.
In other news, Director William R. Klesse purchased 10,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was purchased at an average price of $61.58 per share, with a total value of $615,800.00. Following the completion of the transaction, the director now owns 70,692 shares in the company, valued at $4,353,213.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cedric W. Burgher purchased 1,700 shares of the stock in a transaction on Wednesday, June 7th. The shares were purchased at an average cost of $59.85 per share, with a total value of $101,745.00. Following the transaction, the chief financial officer now owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of OXY. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Occidental Petroleum Corporation during the first quarter valued at $102,000. Grove Bank & Trust increased its stake in shares of Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 622 shares during the last quarter. Oakworth Capital Inc. increased its stake in shares of Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after buying an additional 250 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 264 shares during the last quarter. Finally, Mosaic Family Wealth LLC increased its stake in shares of Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 72 shares during the last quarter. 81.42% of the stock is owned by 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.
Receive News & Ratings for Occidental Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.