Occidental Petroleum Co. (NYSE:OXY) Receives Average Rating of “Hold” from Analysts

Occidental Petroleum Co. (NYSE:OXY) has been given a consensus rating of “Hold” by the fifteen brokerages that are covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $71.56.

OXY has been the topic of several research reports. Citigroup decreased their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Truist Financial downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $84.00 to $69.00 in a research report on Thursday, May 16th. Mizuho lifted their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 8th. Wells Fargo & Company lifted their price objective on Occidental Petroleum from $68.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, June 21st. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th.

Occidental Petroleum Stock Performance

NYSE OXY opened at $62.87 on Friday. The company has a market cap of $55.74 billion, a PE ratio of 17.18 and a beta of 1.59. The stock’s 50 day simple moving average is $63.14 and its 200-day simple moving average is $61.64. Occidental Petroleum has a 1-year low of $55.12 and a 1-year high of $71.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.95 and a quick ratio of 0.71.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.01. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $6.70 billion. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The business’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 earnings per share. As a group, equities research analysts anticipate that Occidental Petroleum will post 3.88 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be paid a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.40%. Occidental Petroleum’s payout ratio is presently 24.04%.

Insider Activity

In other news, major shareholder Berkshire Hathaway Inc acquired 334,461 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was acquired at an average cost of $59.75 per share, with a total value of $19,984,044.75. Following the completion of the purchase, the insider now owns 255,281,524 shares of the company’s stock, valued at approximately $15,253,071,059. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders bought 4,656,747 shares of company stock valued at $278,664,028. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OXY. CapWealth Advisors LLC lifted its stake in shares of Occidental Petroleum by 2.7% during the 1st quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after purchasing an additional 162 shares during the period. Meeder Advisory Services Inc. lifted its stake in shares of Occidental Petroleum by 2.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after purchasing an additional 164 shares during the period. Investment Research & Advisory Group Inc. raised its position in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares during the period. Earnest Partners LLC raised its position in shares of Occidental Petroleum by 2.6% in the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after buying an additional 173 shares during the period. Finally, VisionPoint Advisory Group LLC raised its position in shares of Occidental Petroleum by 1.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock worth $957,000 after buying an additional 174 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

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, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.