Occidental Petroleum Downgraded to Neutral at UBS AG (OXY)
Occidental Petroleum (NYSE: OXY) was downgraded by stock analysts at UBS AG from a “buy” rating to a “neutral” rating in a report issued on Monday, TheFlyOnTheWall.com reports. They currently have a $100.00 price objective on the stock. UBS AG’s price objective points to a potential upside of 7.39% from the stock’s previous close. The analysts noted that the move was a valuation call.
Shares of Occidental Petroleum (NYSE: OXY) traded down 0.16% during mid-day trading on Monday, hitting $92.97. Occidental Petroleum has a one year low of $72.43 and a one year high of $95.57. The stock’s 50-day moving average is currently $89.83. The company has a market cap of $74.901 billion and a P/E ratio of 17.16.
Occidental Petroleum (NYSE: OXY) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.07. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $6.40 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts expect that Occidental Petroleum will post $7.10 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on OXY. Analysts at Societe Generale reiterated a “buy” rating on shares of Occidental Petroleum in a research note to investors on Wednesday, June 5th. They now have a $115.00 price target on the stock. Separately, analysts at Sterne Agee downgraded shares of Occidental Petroleum from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, June 5th. They now have a $97.00 price target on the stock. Finally, analysts at Cowen Securities raised their price target on shares of Occidental Petroleum from $105.00 to $110.00 in a research note to investors on Monday, June 3rd. They now have an “outperform” rating on the stock.
Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $102.61.
The company also recently declared a quarterly dividend, which is scheduled for Monday, July 15th. Shareholders of record on Monday, June 10th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, June 6th.
Occidental Petroleum Corporation (NYSE: OXY) conducts its operations, through various oil and gas, chemical, midstream, marketing and other subsidiaries, and affiliates.
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