Occidental Petroleum Corporation (NYSE:OXY) PT Raised to $66.00 at Jefferies Group LLC

Occidental Petroleum Corporation (NYSE:OXY) had its price objective raised by Jefferies Group LLC from $62.00 to $66.00 in a research report released on Friday, November 3rd. The firm currently has a hold rating on the oil and gas producer’s stock.

OXY has been the topic of a number of other research reports. Cowen and Company restated a buy rating and set a $75.00 price objective on shares of Occidental Petroleum Corporation in a research report on Tuesday, August 22nd. Wolfe Research upgraded shares of Occidental Petroleum Corporation from a market perform rating to an outperform rating in a research report on Monday, July 17th. Zacks Investment Research downgraded shares of Occidental Petroleum Corporation from a hold rating to a sell rating in a research report on Tuesday, July 11th. Bank of America Corporation increased their price objective 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. Finally, Barclays PLC increased their price objective 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. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. Occidental Petroleum Corporation presently has a consensus rating of Hold and a consensus price target of $66.80.

Shares of Occidental Petroleum Corporation (OXY) traded up $0.35 on Friday, reaching $68.23. 2,696,090 shares of the company’s stock were exchanged, compared to its average volume of 4,505,260. The stock has a market capitalization of $52,210.00, a PE ratio of 193.74, a PEG ratio of 14.44 and a beta of 0.63. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. Occidental Petroleum Corporation has a twelve month low of $57.20 and a twelve month high of $73.51.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.07. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Occidental Petroleum Corporation had a net margin of 4.33% and a return on equity of 1.31%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.15) earnings per share. sell-side analysts forecast that Occidental Petroleum Corporation will post 0.72 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.51%. Occidental Petroleum Corporation’s payout ratio is 433.80%.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Occidental Petroleum Corporation by 3,198.5% in the 1st quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock valued at $3,737,692,000 after purchasing an additional 57,202,942 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Occidental Petroleum Corporation by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock valued at $3,304,357,000 after purchasing an additional 1,119,588 shares in the last quarter. State Street Corp raised its holdings in shares of Occidental Petroleum Corporation by 1.7% in the 1st quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock valued at $2,511,168,000 after purchasing an additional 681,032 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Occidental Petroleum Corporation by 0.8% in the 1st quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock valued at $884,058,000 after purchasing an additional 105,546 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Occidental Petroleum Corporation by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock valued at $830,010,000 after purchasing an additional 247,780 shares in the last quarter. Institutional investors and hedge funds own 80.82% 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.

Analyst Recommendations for Occidental Petroleum Corporation (NYSE:OXY)

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