Occidental Petroleum (NYSE:OXY) Given New $45.00 Price Target at UBS Group

Occidental Petroleum (NYSE:OXY) had its target price decreased by UBS Group from $46.00 to $45.00 in a report issued on Friday morning,Benzinga reports. UBS Group currently has a neutral rating on the oil and gas producer’s stock.

OXY has been the subject of several other reports. Morgan Stanley reissued an “equal weight” rating and issued a $52.00 target price on shares of Occidental Petroleum in a research note on Monday, August 18th. Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Scotiabank lifted their target price on Occidental Petroleum from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Piper Sandler lifted their target price on Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. Finally, Roth Capital lifted their target price on Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday. Six equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $52.87.

Occidental Petroleum Trading Up 1.4%

OXY stock opened at $44.86 on Friday. The business has a fifty day moving average price of $45.63 and a 200 day moving average price of $43.82. Occidental Petroleum has a fifty-two week low of $34.78 and a fifty-two week high of $56.49. The stock has a market capitalization of $44.16 billion, a price-to-earnings ratio of 26.54 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.29 billion. During the same period last year, the firm posted $1.03 EPS. The business’s revenue was down 6.1% on a year-over-year basis. Analysts expect that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 56.80%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Occidental Petroleum in the 1st quarter worth $1,274,000. Kestra Private Wealth Services LLC lifted its holdings in Occidental Petroleum by 5.6% during the first quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock worth $843,000 after acquiring an additional 906 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Occidental Petroleum by 9.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock worth $78,813,000 after acquiring an additional 140,528 shares in the last quarter. swisspartners Advisors Ltd bought a new position in Occidental Petroleum during the first quarter worth about $6,006,000. Finally, Blackhawk Capital Partners LLC. bought a new position in Occidental Petroleum during the first quarter worth about $344,000. 88.70% 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, 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.