Analysts Set Occidental Petroleum Corp. (OXY) PT at $76.15
Occidental Petroleum Corp. (NYSE:OXY) has earned an average rating of “Hold” from the eighteen ratings firms that are covering the company. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $76.15.
Several brokerages recently weighed in on OXY. Credit Suisse Group AG reiterated a “hold” rating and issued a $72.00 price objective on shares of Occidental Petroleum Corp. in a research report on Monday, September 12th. Credit Agricole SA reiterated a “buy” rating on shares of Occidental Petroleum Corp. in a research report on Tuesday, August 16th. Mizuho began coverage on Occidental Petroleum Corp. in a research report on Wednesday, October 5th. They issued a “buy” rating and a $83.00 price objective for the company. Jefferies Group reiterated a “hold” rating on shares of Occidental Petroleum Corp. in a research report on Thursday, August 4th. Finally, JPMorgan Chase & Co. lowered Occidental Petroleum Corp. from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $76.11 to $78.00 in a research report on Monday, September 12th. They noted that the move was a valuation call.
In other news, Director Stephen I. Chazen sold 9,000 shares of Occidental Petroleum Corp. stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $77.06, for a total transaction of $693,540.00. Following the sale, the director now owns 1,711,119 shares in the company, valued at $131,858,830.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Kistler Tiffany Companies LLC boosted its stake in Occidental Petroleum Corp. by 1.4% in the second quarter. Kistler Tiffany Companies LLC now owns 1,346 shares of the company’s stock worth $102,000 after buying an additional 19 shares during the period. First New York Securities LLC NY purchased a new stake in Occidental Petroleum Corp. during the second quarter worth approximately $110,000. LSV Asset Management purchased a new stake in Occidental Petroleum Corp. during the second quarter worth approximately $111,000. Financial Architects Inc boosted its stake in Occidental Petroleum Corp. by 47.5% in the third quarter. Financial Architects Inc now owns 1,524 shares of the company’s stock worth $112,000 after buying an additional 491 shares during the period. Finally, Enterprise Financial Services Corp boosted its stake in Occidental Petroleum Corp. by 36.3% in the third quarter. Enterprise Financial Services Corp now owns 1,553 shares of the company’s stock worth $113,000 after buying an additional 414 shares during the period. Institutional investors and hedge funds own 81.15% of the company’s stock.
Occidental Petroleum Corp. (NYSE:OXY) opened at 64.95 on Monday. The stock has a 50 day moving average price of $71.50 and a 200 day moving average price of $74.46. Occidental Petroleum Corp. has a 52-week low of $58.24 and a 52-week high of $78.48. The company’s market capitalization is $49.63 billion.
Occidental Petroleum Corp. (NYSE:OXY) last issued its quarterly earnings data on Tuesday, November 1st. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by $0.04. The business earned $2.65 billion during the quarter, compared to analysts’ expectations of $2.69 billion. Occidental Petroleum Corp. had a negative return on equity of 3.43% and a negative net margin of 52.62%. The company’s revenue was down 15.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, equities analysts expect that Occidental Petroleum Corp. will post ($0.83) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 9th will be paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Wednesday, December 7th. Occidental Petroleum Corp.’s dividend payout ratio is presently -42.34%.
About Occidental Petroleum Corp.
Occidental Petroleum Corporation 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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