Argus downgraded shares of Occidental Petroleum (NYSE:OXY) from a buy rating to a hold rating in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has $54.61 target price on the oil and gas producer’s stock.
Other analysts also recently issued reports about the company. Royal Bank of Canada upped their price objective on Occidental Petroleum to $76.00 in a report on Tuesday, May 7th. Morgan Stanley set a $72.00 price target on Occidental Petroleum and gave the company a buy rating in a report on Thursday, February 14th. Mizuho reiterated a buy rating and issued a $82.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 13th. Zacks Investment Research upgraded Occidental Petroleum from a hold rating to a buy rating and set a $71.00 target price for the company in a research note on Tuesday, April 16th. Finally, ValuEngine upgraded Occidental Petroleum from a sell rating to a hold rating in a research note on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Occidental Petroleum has an average rating of Hold and a consensus target price of $75.01.
Shares of Occidental Petroleum stock traded down $0.96 during trading hours on Thursday, reaching $52.79. 441,480 shares of the company’s stock were exchanged, compared to its average volume of 15,306,904. The firm has a market cap of $39.74 billion, a PE ratio of 10.54, a P/E/G ratio of 2.78 and a beta of 0.76. 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 has a 52-week low of $53.12 and a 52-week high of $87.67.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. Equities research analysts anticipate that Occidental Petroleum will post 3.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, June 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.91%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 62.28%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc grew its position in Occidental Petroleum by 2.2% in the third 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 during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Occidental Petroleum by 3.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 38,076 shares of the oil and gas producer’s stock valued at $2,337,000 after purchasing an additional 1,417 shares in the last quarter. BKD Wealth Advisors LLC boosted its holdings in Occidental Petroleum by 39.4% during the fourth quarter. BKD Wealth Advisors LLC now owns 3,916 shares of the oil and gas producer’s stock worth $240,000 after purchasing an additional 1,107 shares during the last quarter. Virtu Financial LLC boosted its holdings in Occidental Petroleum by 775.7% during the fourth quarter. Virtu Financial LLC now owns 26,639 shares of the oil and gas producer’s stock worth $1,635,000 after purchasing an additional 23,597 shares during the last quarter. Finally, BLB&B Advisors LLC boosted its holdings in Occidental Petroleum by 14.3% during the fourth quarter. BLB&B Advisors LLC now owns 47,723 shares of the oil and gas producer’s stock worth $2,929,000 after purchasing an additional 5,982 shares during the last quarter. 84.05% of the stock is currently owned by institutional investors.
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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