Mitsubishi UFJ Financial Group Lowers Occidental Petroleum (OXY) Price Target to $92.00
Occidental Petroleum (NYSE:OXY) had its price objective trimmed by Mitsubishi UFJ Financial Group to $92.00 in a report issued on Tuesday morning, The Fly reports. The firm currently has a neutral rating on the oil and gas producer’s stock. Mitsubishi UFJ Financial Group also issued estimates for Occidental Petroleum’s Q3 2018 earnings at $1.50 EPS, Q1 2019 earnings at $1.72 EPS, Q2 2019 earnings at $1.69 EPS, Q3 2019 earnings at $1.59 EPS, Q4 2019 earnings at $1.30 EPS, FY2019 earnings at $6.31 EPS, Q1 2020 earnings at $1.34 EPS, Q2 2020 earnings at $1.26 EPS and Q3 2020 earnings at $1.25 EPS.
A number of other analysts have also recently commented on the company. Piper Jaffray Companies started coverage on Occidental Petroleum in a research report on Friday, September 28th. They issued an overweight rating for the company. JPMorgan Chase & Co. cut their target price on Occidental Petroleum from $94.00 to $90.00 and set a neutral rating for the company in a research report on Friday, August 10th. Edward Jones upgraded Occidental Petroleum from a hold rating to a buy rating in a research report on Tuesday, September 18th. Morgan Stanley began coverage on Occidental Petroleum in a research report on Thursday, July 12th. They set an overweight rating and a $100.00 target price for the company. Finally, Bank of America increased their target price on Occidental Petroleum from $100.00 to $105.00 and gave the stock a buy rating in a research report on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $84.06.
OXY traded up $0.28 during midday trading on Tuesday, reaching $72.18. The company had a trading volume of 5,687,973 shares, compared to its average volume of 5,259,689. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.49. The stock has a market cap of $54.98 billion, a price-to-earnings ratio of 81.10, a PEG ratio of 2.55 and a beta of 0.58. Occidental Petroleum has a 1 year low of $62.47 and a 1 year high of $87.67.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 10th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Friday, December 7th. Occidental Petroleum’s payout ratio is presently 350.56%.
In other news, Director William R. Klesse purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was bought at an average cost of $78.55 per share, with a total value of $392,750.00. Following the completion of the purchase, the director now owns 77,963 shares in the company, valued at $6,123,993.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Westbourne Investment Advisors Inc. bought a new position in Occidental Petroleum during the third quarter valued at approximately $138,000. Kaizen Advisory LLC boosted its stake in Occidental Petroleum by 142.0% during the second quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock valued at $150,000 after buying an additional 1,052 shares during the last quarter. GeoSphere Capital Management LLC bought a new position in Occidental Petroleum during the second quarter valued at approximately $151,000. Spectrum Management Group Inc. bought a new position in Occidental Petroleum during the second quarter valued at approximately $160,000. Finally, Smithfield Trust Co. boosted its stake in Occidental Petroleum by 367.1% during the second quarter. Smithfield Trust Co. now owns 1,971 shares of the oil and gas producer’s stock valued at $164,000 after buying an additional 1,549 shares during the last quarter. 80.34% of the stock is owned by institutional investors.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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