Piper Jaffray Companies set a $55.00 price target on Occidental Petroleum Corporation (NYSE:OXY) in a research report released on Friday. The firm currently has a hold rating on the oil and gas producer’s stock.

A number of other research analysts also recently weighed in on the company. BidaskClub downgraded Occidental Petroleum Corporation from a sell rating to a strong sell rating in a research note on Thursday, August 24th. Cowen and Company reissued a buy rating and issued a $75.00 price target on shares of Occidental Petroleum Corporation in a research note on Tuesday, August 22nd. Barclays PLC set a $38.00 price target on Occidental Petroleum Corporation and gave the company a sell rating in a research note on Friday, August 4th. Jefferies Group LLC set a $64.00 price target on Occidental Petroleum Corporation and gave the company a hold rating in a research note on Saturday, July 29th. Finally, Citigroup Inc. downgraded Occidental Petroleum Corporation from a neutral rating to a sell rating and cut their price target for the company from $66.00 to $58.00 in a research note on Friday, July 21st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Occidental Petroleum Corporation has an average rating of Hold and an average price target of $65.57.

Shares of Occidental Petroleum Corporation (NYSE:OXY) opened at 59.13 on Friday. The firm has a 50-day moving average price of $60.41 and a 200-day moving average price of $61.97. The stock has a market cap of $45.21 billion, a PE ratio of 416.41 and a beta of 0.65. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $78.48.

Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.18) EPS. On average, analysts forecast that Occidental Petroleum Corporation will post $0.66 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Occidental Petroleum Corporation (OXY) Given a $55.00 Price Target at Piper Jaffray Companies” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/08/29/occidental-petroleum-corporation-oxy-given-a-55-00-price-target-at-piper-jaffray-companies.html.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend is Friday, September 8th. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio is 2,338.46%.

In other news, CFO Cedric W. Burgher bought 1,700 shares of the stock in a transaction on Wednesday, June 7th. The stock was purchased at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the acquisition, the chief financial officer now owns 44,124 shares in the company, valued at $2,640,821.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William R. Klesse bought 10,000 shares of the stock in a transaction on Wednesday, August 9th. The shares were purchased at an average price of $61.58 per share, with a total value of $615,800.00. Following the acquisition, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in OXY. Glassman Wealth Services boosted its position in Occidental Petroleum Corporation by 0.3% in the second quarter. Glassman Wealth Services now owns 2,474 shares of the oil and gas producer’s stock worth $148,000 after buying an additional 8 shares during the period. Partnervest Advisory Services LLC boosted its position in Occidental Petroleum Corporation by 0.5% in the first quarter. Partnervest Advisory Services LLC now owns 3,301 shares of the oil and gas producer’s stock worth $209,000 after buying an additional 16 shares during the period. Guardian Life Insurance Co. of America boosted its position in Occidental Petroleum Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,948 shares of the oil and gas producer’s stock worth $187,000 after buying an additional 20 shares during the period. Concert Wealth Management Inc. boosted its position in Occidental Petroleum Corporation by 0.3% in the first quarter. Concert Wealth Management Inc. now owns 8,383 shares of the oil and gas producer’s stock worth $595,000 after buying an additional 23 shares during the period. Finally, BerganKDV Wealth Management LLC boosted its position in Occidental Petroleum Corporation by 0.5% in the second quarter. BerganKDV Wealth Management LLC now owns 4,939 shares of the oil and gas producer’s stock worth $296,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 80.85% of the company’s stock.

Occidental Petroleum Corporation Company Profile

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)

Receive News & Stock Ratings for Occidental Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum Corporation and related stocks with our FREE daily email newsletter.