BMO Capital Markets set a $60.00 target price on Occidental Petroleum Corporation (NYSE:OXY) in a research report released on Tuesday morning. The firm currently has a hold rating on the oil and gas producer’s stock.

Other research analysts also recently issued reports about the company. Cowen and Company set a $75.00 price objective on Occidental Petroleum Corporation and gave the company a buy rating in a research note on Wednesday, July 19th. Piper Jaffray Companies set a $55.00 price objective on Occidental Petroleum Corporation and gave the company a hold rating in a research note on Friday, August 25th. Scotiabank reissued a hold rating and issued a $60.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, June 30th. Jefferies Group LLC reissued a hold rating and issued a $64.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. Finally, Zacks Investment Research raised Occidental Petroleum Corporation from a sell rating to a hold rating in a research note on Tuesday, September 12th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $65.71.

Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company earned ($0.18) EPS. The firm’s revenue was up 40.9% compared to the same quarter last year.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be given 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 4.80%. Occidental Petroleum Corporation’s payout ratio is 2,369.23%.

In other news, Director William R. Klesse bought 10,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were bought at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the transaction, the director now owns 70,692 shares in the company, valued at $4,353,213.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Glassman Wealth Services lifted its position in shares of 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 valued at $148,000 after acquiring an additional 8 shares in the last quarter. Partnervest Advisory Services LLC lifted its position in shares of 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 valued at $209,000 after acquiring an additional 16 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in shares of 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 valued at $187,000 after acquiring an additional 20 shares in the last quarter. Concert Wealth Management Inc. lifted its position in shares of 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 valued at $595,000 after acquiring an additional 23 shares in the last quarter. Finally, BerganKDV Wealth Management LLC lifted its position in shares of 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 valued at $296,000 after acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds own 80.59% 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)

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