Occidental Petroleum Given Average Recommendation of “Buy” by Brokerages (NYSE:OXY)
Occidental Petroleum (NYSE:OXY) has earned an average rating of “Buy” from the nineteen brokerages that are currently covering the stock, American Banking and Market News reports. Five research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $111.69.
Occidental Petroleum (NYSE:OXY) opened at 99.80 on Thursday. Occidental Petroleum has a 52 week low of $84.91 and a 52 week high of $105.64. The stock has a 50-day moving average of $100.9 and a 200-day moving average of $96.87. The company has a market cap of $77.807 billion and a P/E ratio of 12.96.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Thursday, July 31st. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.07. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter last year, the company posted $1.64 earnings per share. Occidental Petroleum’s revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that Occidental Petroleum will post $7.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 15th. Investors of record on Wednesday, September 10th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Monday, September 8th.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley upgraded shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 4th. They now have a $120.00 price target on the stock, up previously from $110.00. Separately, analysts at Barclays cut their price target on shares of Occidental Petroleum from $120.00 to $117.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Occidental Petroleum from $110.00 to $114.00 in a research note on Thursday, July 17th. They now have a “hold” rating on the stock.
Occidental Petroleum Corporation (NYSE:OXY) conducts its operations through various subsidiaries and affiliates.
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