Barclays PLC Raises Occidental Petroleum Corporation (OXY) Price Target to $40.00
Occidental Petroleum Corporation (NYSE:OXY) had its price target hoisted by Barclays PLC from $38.00 to $40.00 in a research note published on Wednesday. They currently have an underweight rating on the oil and gas producer’s stock.
A number of other equities analysts also recently commented on OXY. Jefferies Group LLC restated a hold rating and set a $58.00 price objective on shares of Occidental Petroleum Corporation in a research report on Friday, October 6th. BMO Capital Markets set a $60.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a hold rating in a research report on Tuesday, October 10th. Cowen and Company restated a buy rating and set a $80.00 price objective on shares of Occidental Petroleum Corporation in a research report on Thursday, September 28th. Scotiabank restated a hold rating and set a $60.00 price objective on shares of Occidental Petroleum Corporation in a research report on Friday, June 30th. Finally, Wolfe Research upgraded shares of Occidental Petroleum Corporation from a market perform rating to an outperform rating in a research report on Monday, July 17th. Three research 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’s stock. Occidental Petroleum Corporation currently has an average rating of Hold and a consensus price target of $65.71.
Occidental Petroleum Corporation (NYSE:OXY) opened at 64.73 on Wednesday. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $75.60. The stock has a market cap of $49.49 billion, a PE ratio of 455.85 and a beta of 0.67. The firm has a 50-day moving average of $62.49 and a 200-day moving average of $61.35.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. Occidental Petroleum Corporation’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.18) EPS. Equities analysts predict that Occidental Petroleum Corporation will post $0.66 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 8th. This represents a $3.08 annualized dividend and a yield of 4.76%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,369.23%.
In other Occidental Petroleum Corporation news, Director William R. Klesse bought 10,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the acquisition, the director now owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.32% of the company’s stock.
Large investors have recently bought and sold shares of the business. Grove Bank & Trust increased its holdings in Occidental Petroleum Corporation by 54.8% during the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after acquiring an additional 622 shares in the last quarter. Oakworth Capital Inc. increased its holdings in Occidental Petroleum Corporation by 14.7% during the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after acquiring an additional 250 shares in the last quarter. Parallel Advisors LLC increased its holdings in Occidental Petroleum Corporation by 15.6% during the 1st quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after acquiring an additional 264 shares in the last quarter. FNY Partners Fund LP purchased a new position in Occidental Petroleum Corporation during the 1st quarter valued at about $126,000. Finally, MV Capital Management Inc. increased its holdings in Occidental Petroleum Corporation by 6.1% during the 2nd quarter. MV Capital Management Inc. now owns 2,333 shares of the oil and gas producer’s stock valued at $140,000 after acquiring an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 80.59% of the company’s stock.
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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