Research Analysts’ Recent Ratings Updates for Occidental Petroleum (OXY)

Occidental Petroleum (NYSE: OXY) recently received a number of ratings updates from brokerages and research firms:

  • 6/23/2020 – Occidental Petroleum had its price target raised by analysts at Barclays PLC from $15.00 to $21.00. They now have an “equal weight” rating on the stock.
  • 6/19/2020 – Occidental Petroleum was upgraded by analysts at SunTrust Banks, Inc. from a “hold” rating to a “buy” rating. They now have a $25.00 price target on the stock, up previously from $13.00.
  • 6/19/2020 – Occidental Petroleum had its price target raised by analysts at Mizuho from $13.00 to $18.00.
  • 6/10/2020 – Occidental Petroleum is now covered by analysts at MKM Partners. They set a “neutral” rating and a $20.00 price target on the stock.
  • 6/10/2020 – Occidental Petroleum had its price target raised by analysts at JPMorgan Chase & Co. from $7.00 to $17.00.
  • 6/9/2020 – Occidental Petroleum had its “buy” rating reaffirmed by analysts at Raymond James.
  • 6/9/2020 –
  • 6/9/2020 – Occidental Petroleum was upgraded by analysts at Bank of America Corp from a “neutral” rating to a “buy” rating.
  • 6/4/2020 – Occidental Petroleum was downgraded by analysts at Wolfe Research from a “market perform” rating to an “underperform” rating. They now have a $11.00 price target on the stock.
  • 6/1/2020 – Occidental Petroleum was downgraded by analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating. They now have a $16.00 price target on the stock, down previously from $25.00.
  • 5/18/2020 – Occidental Petroleum was upgraded by analysts at Standpoint Research from a “hold” rating to a “buy” rating.
  • 5/6/2020 – Occidental Petroleum had its “sell” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $8.00 price target on the stock.
  • 5/6/2020 – Occidental Petroleum had its “neutral” rating reaffirmed by analysts at Bank of America Corp. They now have a $18.00 price target on the stock, up previously from $15.00.
  • 5/6/2020 – Occidental Petroleum was upgraded by analysts at SunTrust Banks, Inc. from a “sell” rating to a “hold” rating. They now have a $13.00 price target on the stock, up previously from $10.00.
  • 5/4/2020 – Occidental Petroleum was downgraded by analysts at Tudor Pickering from a “hold” rating to a “sell” rating.
  • 5/1/2020 – Occidental Petroleum was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.

Shares of OXY stock traded up $0.19 during trading hours on Tuesday, reaching $18.05. The company had a trading volume of 1,132,878 shares, compared to its average volume of 51,799,520. 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 Co. has a 1-year low of $9.00 and a 1-year high of $54.05. The company has a 50 day moving average of $16.79 and a 200 day moving average of $26.34. The firm has a market cap of $16.07 billion, a price-to-earnings ratio of -4.27 and a beta of 1.90.

Occidental Petroleum (NYSE:OXY) last released its 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. The company had revenue of $6.45 billion for the quarter, compared to analyst estimates of $5.60 billion. Occidental Petroleum had a positive return on equity of 1.24% and a negative net margin of 13.85%. Occidental Petroleum’s quarterly revenue was up 57.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. As a group, sell-side analysts forecast that Occidental Petroleum Co. will post -3.49 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, June 12th. Occidental Petroleum’s dividend payout ratio is currently 2.76%.

In other Occidental Petroleum news, SVP Oscar K. Brown sold 30,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $14.85, for a total transaction of $445,500.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Oscar K. Brown sold 52,066 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $19.42, for a total value of $1,011,121.72. Following the sale, the senior vice president now owns 46,839 shares in the company, valued at approximately $909,613.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,905 shares of company stock worth $1,740,403. 0.21% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Occidental Petroleum by 0.5% in the 1st quarter. BlackRock Inc. now owns 59,085,102 shares of the oil and gas producer’s stock worth $684,205,000 after purchasing an additional 317,174 shares in the last quarter. State Street Corp boosted its holdings in shares of Occidental Petroleum by 11.0% during the first quarter. State Street Corp now owns 50,368,326 shares of the oil and gas producer’s stock valued at $619,690,000 after acquiring an additional 5,003,171 shares during the period. Macquarie Group Ltd. increased its holdings in shares of Occidental Petroleum by 28.0% in the 4th quarter. Macquarie Group Ltd. now owns 19,479,164 shares of the oil and gas producer’s stock worth $802,736,000 after acquiring an additional 4,258,686 shares during the period. Capital World Investors lifted its position in Occidental Petroleum by 4.9% in the 1st quarter. Capital World Investors now owns 13,518,538 shares of the oil and gas producer’s stock valued at $156,545,000 after purchasing an additional 635,583 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Occidental Petroleum by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 12,782,833 shares of the oil and gas producer’s stock valued at $525,611,000 after purchasing an additional 300,838 shares during the last quarter. Institutional investors and hedge funds own 76.17% of the company’s stock.

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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