Occidental Petroleum Co. (NYSE:OXY) has been given an average rating of “Hold” by the twenty-six brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $75.94.
Several equities analysts recently weighed in on OXY shares. Mizuho restated a “buy” rating and set a $82.00 target price on shares of Occidental Petroleum in a report on Wednesday, February 13th. Morgan Stanley set a $72.00 target price on shares of Occidental Petroleum and gave the company a “buy” rating in a report on Thursday, February 14th. Barclays lowered shares of Occidental Petroleum from an “overweight” rating to an “underweight” rating and reduced their target price for the company from $77.00 to $70.00 in a report on Friday, February 15th. Citigroup lowered shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $72.00 in a report on Tuesday, February 19th. Finally, ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th.
Shares of NYSE OXY traded up $0.21 during trading on Thursday, hitting $49.53. 425,198 shares of the company traded hands, compared to its average volume of 14,725,365. Occidental Petroleum has a 1 year low of $49.05 and a 1 year high of $87.67. The stock has a market capitalization of $37.06 billion, a PE ratio of 9.89, a P/E/G ratio of 2.57 and a beta of 0.86. The company has a quick ratio of 1.03, a current ratio of 1.23 and a debt-to-equity ratio of 0.50.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the company earned $0.92 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts expect that Occidental Petroleum will post 3.88 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.12 dividend on an annualized basis and a yield of 6.30%. Occidental Petroleum’s dividend payout ratio is currently 62.28%.
A number of hedge funds have recently modified their holdings of OXY. Norges Bank acquired a new position in Occidental Petroleum in the 4th quarter worth $475,929,000. Oregon Public Employees Retirement Fund lifted its holdings in Occidental Petroleum by 5,978.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,105,650 shares of the oil and gas producer’s stock worth $83,000 after buying an additional 5,021,655 shares in the last quarter. Millennium Management LLC lifted its holdings in Occidental Petroleum by 401.0% in the 4th quarter. Millennium Management LLC now owns 3,275,239 shares of the oil and gas producer’s stock worth $201,034,000 after buying an additional 2,621,463 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Occidental Petroleum by 24.1% in the 1st quarter. Wellington Management Group LLP now owns 12,115,645 shares of the oil and gas producer’s stock worth $802,056,000 after buying an additional 2,353,220 shares in the last quarter. Finally, Vanguard Group Inc lifted its holdings in Occidental Petroleum by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock worth $5,133,793,000 after buying an additional 1,370,841 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.
About Occidental Petroleum
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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