Occidental Petroleum Co. (NYSE:OXY) Receives $53.14 Consensus Target Price from Brokerages

Shares of Occidental Petroleum Co. (NYSE:OXY) have been assigned an average rating of “Hold” from the twenty-one analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $53.14.

Several equities analysts have recently commented on OXY shares. Wall Street Zen downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Piper Sandler decreased their target price on Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 22nd. Scotiabank downgraded Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 price objective on the stock. in a research report on Friday, April 11th. Hsbc Global Res upgraded Occidental Petroleum to a “hold” rating in a research report on Wednesday, April 16th. Finally, Citigroup upped their target price on Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, May 19th.

Institutional Trading of Occidental Petroleum

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Occidental Petroleum by 17.8% in the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock valued at $3,960,202,000 after purchasing an additional 12,107,285 shares during the period. Berkshire Hathaway Inc grew its holdings in Occidental Petroleum by 3.5% in the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer’s stock valued at $13,053,055,000 after purchasing an additional 8,896,890 shares during the period. Nuveen LLC acquired a new stake in Occidental Petroleum in the first quarter valued at approximately $99,853,000. Worldquant Millennium Advisors LLC grew its holdings in Occidental Petroleum by 1,075.3% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer’s stock valued at $95,400,000 after purchasing an additional 1,766,491 shares during the period. Finally, Marshall Wace LLP grew its holdings in Occidental Petroleum by 48.1% in the fourth quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer’s stock valued at $203,459,000 after purchasing an additional 1,337,728 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Up 2.1%

Shares of NYSE:OXY opened at $44.84 on Friday. Occidental Petroleum has a 52-week low of $34.79 and a 52-week high of $64.76. The firm has a market capitalization of $44.13 billion, a P/E ratio of 18.38 and a beta of 0.87. The stock has a 50 day moving average price of $40.72 and a 200-day moving average price of $45.92. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. As a group, equities research analysts anticipate that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 39.02%.

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.