Occidental Petroleum Corporation (OXY) Receives $65.14 Average PT from Analysts
Occidental Petroleum Corporation (NYSE:OXY) has been given a consensus rating of “Hold” by the nineteen research firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $65.14.
OXY has been the subject of a number of research reports. BidaskClub cut shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Jefferies Group LLC set a $58.00 price target on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research report on Tuesday, August 29th. Mitsubishi UFJ Financial Group initiated coverage on shares of Occidental Petroleum Corporation in a research report on Monday, May 29th. They issued a “hold” rating and a $69.00 price target for the company. Cowen and Company reissued a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum Corporation in a research report on Tuesday, May 23rd. Finally, Wolfe Research upgraded shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th.
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Shares of Occidental Petroleum Corporation (NYSE:OXY) traded down 0.37% during midday trading on Tuesday, reaching $61.35. The company’s stock had a trading volume of 5,290,923 shares. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $75.60. The company has a 50 day moving average of $60.62 and a 200-day moving average of $61.38. The stock has a market capitalization of $46.91 billion, a price-to-earnings ratio of 432.04 and a beta of 0.66.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The firm 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 company earned ($0.18) earnings per share. Occidental Petroleum Corporation’s quarterly revenue was up 40.9% compared to the same quarter last year. Equities research analysts predict that Occidental Petroleum Corporation will post $0.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.02%. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, September 8th. Occidental Petroleum Corporation’s payout ratio is 2,369.23%.
In other news, Director William R. Klesse purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now directly owns 70,692 shares in the company, valued at approximately $4,353,213.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.32% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. W. E. Donoghue & Co. LLC purchased a new stake in Occidental Petroleum Corporation during the second quarter worth about $15,950,000. Intl Fcstone Inc. boosted its holdings in Occidental Petroleum Corporation by 96.6% during the second quarter. Intl Fcstone Inc. now owns 26,969 shares of the oil and gas producer’s stock worth $1,615,000 after buying an additional 13,250 shares in the last quarter. Kimelman & Baird LLC boosted its holdings in Occidental Petroleum Corporation by 1.6% during the second quarter. Kimelman & Baird LLC now owns 64,995 shares of the oil and gas producer’s stock worth $3,891,000 after buying an additional 1,050 shares in the last quarter. Sentry Investment Management LLC boosted its holdings in Occidental Petroleum Corporation by 1.2% during the second quarter. Sentry Investment Management LLC now owns 103,419 shares of the oil and gas producer’s stock worth $6,192,000 after buying an additional 1,275 shares in the last quarter. Finally, Atlantic Trust LLC boosted its holdings in Occidental Petroleum Corporation by 23.8% during the second quarter. Atlantic Trust LLC now owns 2,785 shares of the oil and gas producer’s stock worth $154,000 after buying an additional 535 shares in the last quarter. 80.85% of the stock is currently owned by hedge funds and other institutional investors.
About Occidental Petroleum Corporation
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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