Occidental Petroleum Corporation (NYSE:OXY) Stock Rated “Hold” by Sell-Side Analysts

Shares of Occidental Petroleum Corporation (NYSE:OXY) have received a consensus rating of “Hold” from the twenty-seven ratings firms that are covering the company, Marketbeat reports. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $67.46.

Several research analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Occidental Petroleum from $63.00 to $64.00 and gave the stock a “hold” rating in a research report on Thursday, October 15th. Evercore upgraded shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Wednesday, July 8th. UBS Group raised their price objective on shares of Occidental Petroleum from $67.00 to $73.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 14th. The Goldman Sachs Group upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $63.00 to $69.00 in a research report on Thursday, October 1st. Finally, Barclays cut their target price on shares of Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $64.07 on Tuesday. The stock’s fifty day simple moving average is $59.83 and its 200 day simple moving average is $55.39. The stock has a market capitalization of $64.05 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.74 and a beta of 0.24. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40. Occidental Petroleum has a 52-week low of $38.80 and a 52-week high of $67.45.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating the consensus estimate of $1.83 by $0.57. The business had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. Occidental Petroleum’s revenue was up 53.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. As a group, sell-side analysts forecast that Occidental Petroleum will post 6.84 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 10th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, December 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.7%. Occidental Petroleum’s payout ratio is currently 17.34%.

Institutional Investors Weigh In On Occidental Petroleum

Several hedge funds have recently bought and sold shares of OXY. Evergreen Capital Management LLC lifted its holdings in Occidental Petroleum by 2.7% during the 3rd quarter. Evergreen Capital Management LLC now owns 5,929 shares of the oil and gas producer’s stock worth $330,000 after buying an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in Occidental Petroleum by 12.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,765 shares of the oil and gas producer’s stock valued at $111,000 after buying an additional 196 shares during the period. Venture Visionary Partners LLC grew its stake in shares of Occidental Petroleum by 2.2% in the third quarter. Venture Visionary Partners LLC now owns 9,639 shares of the oil and gas producer’s stock worth $533,000 after acquiring an additional 203 shares in the last quarter. Athena Wealth Management LLC grew its stake in shares of Occidental Petroleum by 1.2% in the first quarter. Athena Wealth Management LLC now owns 18,547 shares of the oil and gas producer’s stock worth $1,206,000 after acquiring an additional 214 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its stake in shares of Occidental Petroleum by 15.8% in the second quarter. Elevation Wealth Partners LLC now owns 1,615 shares of the oil and gas producer’s stock worth $78,000 after acquiring an additional 220 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.