Occidental Petroleum Corporation (NYSE:OXY) had its price target hoisted by Jefferies Group LLC from $62.00 to $66.00 in a research note released on Friday, November 3rd. The brokerage currently has a hold rating on the oil and gas producer’s stock.
A number of other equities analysts have also recently weighed in on the stock. Cowen and Company reaffirmed a buy rating and set a $80.00 price objective on shares of Occidental Petroleum Corporation in a research report on Thursday, September 28th. Morgan Stanley raised their price objective on shares of Occidental Petroleum Corporation from $62.00 to $66.00 and gave the company an equal weight rating in a report on Wednesday, October 18th. BMO Capital Markets set a $60.00 price objective on shares of Occidental Petroleum Corporation and gave the company a hold rating in a report on Tuesday, October 10th. Barclays PLC lifted their price target on shares of Occidental Petroleum Corporation from $38.00 to $40.00 and gave the stock an underweight rating in a research note on Wednesday, October 11th. Finally, Bank of America Corporation lifted their price target on shares of Occidental Petroleum Corporation from $70.00 to $76.00 and gave the stock a buy rating in a research note on Friday, October 13th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $66.07.
Occidental Petroleum Corporation (OXY) traded up $0.52 on Friday, hitting $67.19. 877,606 shares of the company traded hands, compared to its average volume of 4,521,507. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $73.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.11. The firm has a market cap of $51,516.32, a P/E ratio of 192.34, a PEG ratio of 14.33 and a beta of 0.63.
Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. Occidental Petroleum Corporation had a net margin of 4.33% and a return on equity of 1.31%. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. sell-side analysts expect that Occidental Petroleum Corporation will post 0.72 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be given a $0.77 dividend. The ex-dividend date is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.58%. Occidental Petroleum Corporation’s dividend payout ratio is presently 440.00%.
A number of institutional investors and hedge funds have recently made changes to their positions in OXY. Grove Bank & Trust boosted its holdings in shares of Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 622 shares during the period. Oakworth Capital Inc. boosted its holdings in shares of Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after buying an additional 250 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 264 shares during the period. Fis Group Inc. acquired a new position in shares of Occidental Petroleum Corporation in the third quarter worth about $126,000. Finally, Enterprise Financial Services Corp boosted its holdings in shares of Occidental Petroleum Corporation by 68.5% in the third quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock worth $127,000 after buying an additional 806 shares during the period. Hedge funds and other institutional investors own 80.29% of the company’s stock.
About Occidental Petroleum Corporation
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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