Occidental Petroleum Co. (NYSE:OXY) Given Consensus Rating of “Hold” by Brokerages

Occidental Petroleum Co. (NYSE:OXY) has received an average recommendation of “Hold” from the twenty-four ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $69.79.

Several research firms recently commented on OXY. Mizuho downgraded shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and cut their target price for the stock from $83.00 to $70.00 in a research report on Monday, April 22nd. Jefferies Financial Group downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating and cut their target price for the stock from $74.00 to $66.00 in a research report on Monday, April 29th. TheStreet downgraded shares of Occidental Petroleum from a “b-” rating to a “c+” rating in a research report on Friday, May 24th. Royal Bank of Canada lifted their target price on shares of Occidental Petroleum to $76.00 in a research report on Tuesday, May 7th. Finally, Wolfe Research downgraded shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and cut their target price for the stock from $85.00 to $65.00 in a research report on Monday, May 13th.

NYSE:OXY traded up $0.61 during mid-day trading on Tuesday, hitting $44.57. 8,366,200 shares of the company’s stock were exchanged, compared to its average volume of 11,026,965. The company has a 50 day simple moving average of $49.69 and a 200-day simple moving average of $57.62. The company has a current ratio of 1.20, a quick ratio of 1.00 and a debt-to-equity ratio of 0.50. Occidental Petroleum has a fifty-two week low of $43.08 and a fifty-two week high of $83.35. The firm has a market capitalization of $32.90 billion, a P/E ratio of 8.90, a PEG ratio of 2.47 and a beta of 0.82.



Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the company earned $1.10 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts expect that Occidental Petroleum will post 3.48 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.79 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, September 9th. This represents a $3.16 annualized dividend and a yield of 7.09%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 62.28%.

In other news, CFO Cedric W. Burgher purchased 2,500 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $43.27 per share, for a total transaction of $108,175.00. Following the acquisition, the chief financial officer now owns 79,342 shares in the company, valued at $3,433,128.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Marcia E. Backus purchased 10,000 shares of the stock in a transaction on Monday, June 10th. The shares were purchased at an average price of $48.09 per share, with a total value of $480,900.00. Following the acquisition, the senior vice president now owns 101,248 shares in the company, valued at approximately $4,869,016.32. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 104,160 shares of company stock valued at $5,023,276. Company insiders own 0.15% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in OXY. OppenheimerFunds Inc. increased its stake in shares of Occidental Petroleum by 35.6% in the 1st quarter. OppenheimerFunds Inc. now owns 1,020,876 shares of the oil and gas producer’s stock valued at $67,582,000 after acquiring an additional 268,067 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Occidental Petroleum by 13.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,027,862 shares of the oil and gas producer’s stock valued at $68,044,000 after acquiring an additional 125,245 shares in the last quarter. Covenant Multifamily Offices LLC bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $1,667,000. Flagship Harbor Advisors LLC increased its stake in shares of Occidental Petroleum by 98.1% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 7,933 shares of the oil and gas producer’s stock valued at $398,000 after acquiring an additional 3,929 shares in the last quarter. Finally, Gradient Investments LLC increased its stake in shares of Occidental Petroleum by 54.1% in the 2nd quarter. Gradient Investments LLC now owns 168,260 shares of the oil and gas producer’s stock valued at $8,460,000 after acquiring an additional 59,086 shares in the last quarter. Hedge funds and other institutional investors own 81.12% of the company’s stock.

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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Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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