Shares of Occidental Petroleum Co. (NYSE:OXY) have been assigned an average rating of “Buy” from the twenty-two analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $84.58.
A number of brokerages recently commented on OXY. Mizuho initiated coverage on Occidental Petroleum in a research report on Friday, June 8th. They issued a “buy” rating and a $102.00 price target on the stock. Edward Jones upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Tuesday, September 18th. National Alliance Securities upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. Jefferies Financial Group upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and lifted their target price for the company from $87.00 to $98.00 in a research report on Monday, June 11th. Finally, ValuEngine cut Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th.
Shares of NYSE OXY traded up $0.16 during mid-day trading on Friday, reaching $81.17. The company had a trading volume of 5,185,200 shares, compared to its average volume of 4,850,883. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.36. Occidental Petroleum has a one year low of $62.47 and a one year high of $87.67. The stock has a market capitalization of $62.18 billion, a P/E ratio of 91.21, a PEG ratio of 3.01 and a beta of 0.61.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 EPS for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.11). Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the previous year, the business posted $0.15 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. equities research analysts forecast that Occidental Petroleum will post 4.9 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 10th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Friday, September 7th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.77. Occidental Petroleum’s payout ratio is currently 350.56%.
In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were purchased at an average price of $78.55 per share, for a total transaction of $392,750.00. Following the completion of the transaction, the director now directly owns 77,963 shares in the company, valued at approximately $6,123,993.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.32% of the company’s stock.
Several large investors have recently added to or reduced their stakes in OXY. Argent Trust Co bought a new stake in shares of Occidental Petroleum during the fourth quarter worth about $201,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Occidental Petroleum by 13.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,417 shares of the oil and gas producer’s stock worth $2,561,000 after purchasing an additional 4,520 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Occidental Petroleum during the first quarter worth about $557,000. Glen Harbor Capital Management LLC grew its holdings in shares of Occidental Petroleum by 9.3% during the first quarter. Glen Harbor Capital Management LLC now owns 15,510 shares of the oil and gas producer’s stock worth $1,008,000 after purchasing an additional 1,320 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Occidental Petroleum by 1.6% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 83,636 shares of the oil and gas producer’s stock worth $5,433,000 after purchasing an additional 1,350 shares during the last quarter. Institutional investors own 80.00% 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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