Brokerages Set Occidental Petroleum Co. (NYSE:OXY) PT at $17.69

Occidental Petroleum Co. (NYSE:OXY) has been assigned an average rating of “Hold” from the twenty-five research firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $17.69.

Several research firms have recently commented on OXY. Piper Sandler increased their price target on shares of Occidental Petroleum from $13.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. SunTrust Banks raised Occidental Petroleum from a “hold” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $25.00 in a report on Friday, June 19th. upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 9th. JPMorgan Chase & Co. upped their target price on shares of Occidental Petroleum from $7.00 to $17.00 in a report on Wednesday, June 10th. Finally, Credit Suisse Group reiterated a “sell” rating and set a $8.00 price target on shares of Occidental Petroleum in a report on Wednesday, May 6th.

NYSE:OXY opened at $15.74 on Tuesday. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of -3.72 and a beta of 1.95. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.18 and a quick ratio of 1.06. Occidental Petroleum has a 1-year low of $9.00 and a 1-year high of $54.05. The firm’s fifty day moving average price is $17.63 and its 200 day moving average price is $22.55.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.11. Occidental Petroleum had a positive return on equity of 1.24% and a negative net margin of 13.85%. The business had revenue of $6.45 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The business’s revenue was up 57.8% on a year-over-year basis. As a group, analysts expect that Occidental Petroleum will post -3.05 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.25%. Occidental Petroleum’s payout ratio is currently 2.76%.

In related news, SVP Oscar K. Brown sold 11,839 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $23.97, for a total value of $283,780.83. Following the sale, the senior vice president now directly owns 46,839 shares of the company’s stock, valued at $1,122,730.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Oscar K. Brown sold 30,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $14.85, for a total transaction of $445,500.00. The disclosure for this sale can be found here. Insiders have sold 93,905 shares of company stock valued at $1,740,403 over the last 90 days. Insiders own 0.21% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. TFG Advisers LLC bought a new position in Occidental Petroleum in the 4th quarter worth approximately $44,000. Verus Capital Partners LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth $55,000. Interactive Financial Advisors acquired a new position in shares of Occidental Petroleum during the second quarter valued at $32,000. Global Retirement Partners LLC raised its stake in shares of Occidental Petroleum by 143.8% during the second quarter. Global Retirement Partners LLC now owns 2,209 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,303 shares in the last quarter. Finally, Capital Bank & Trust Co lifted its holdings in Occidental Petroleum by 166.2% in the first quarter. Capital Bank & Trust Co now owns 2,212 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 1,381 shares during the period. Institutional investors and hedge funds own 76.09% 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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Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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