Occidental Petroleum Co. (OXY) Rating Reiterated by Credit Suisse Group AG
Occidental Petroleum Co. (NYSE:OXY)‘s stock had its “buy” rating reaffirmed by research analysts at Credit Suisse Group AG in a research report issued to clients and investors on Friday. They presently have a $80.00 price objective on the oil and gas producer’s stock. Credit Suisse Group AG’s price objective would indicate a potential upside of 32.69% from the stock’s current price.
Several other equities research analysts also recently commented on OXY. Bank of America Corp raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Wednesday, March 15th. Mizuho raised Occidental Petroleum from a “neutral” rating to an “outperform” rating in a report on Monday, February 13th. They noted that the move was a valuation call. Scotiabank set a $68.00 target price on Occidental Petroleum and gave the company a “hold” rating in a report on Monday, March 27th. Barclays PLC reaffirmed a “sell” rating and set a $50.00 target price (down from $62.00) on shares of Occidental Petroleum in a report on Thursday, April 20th. Finally, Simmons upped their target price on Occidental Petroleum from $71.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $71.58.
Occidental Petroleum (NYSE:OXY) opened at 60.64 on Friday. The firm’s market cap is $46.36 billion. Occidental Petroleum has a 52 week low of $57.20 and a 52 week high of $78.48. The company has a 50-day moving average of $61.94 and a 200 day moving average of $66.35.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Occidental Petroleum had a negative return on equity of 3.40% and a negative net margin of 5.52%. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter last year, the business posted ($0.47) earnings per share. The company’s quarterly revenue was up 30.6% on a year-over-year basis. On average, equities analysts predict that Occidental Petroleum will post $1.01 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 9th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 5.04%. The ex-dividend date is Wednesday, June 7th. Occidental Petroleum’s dividend payout ratio is currently -400.00%.
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In related news, Director Stephen I. Chazen sold 4,000 shares of the stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $65.49, for a total value of $261,960.00. Following the completion of the sale, the director now directly owns 1,500,619 shares of the company’s stock, valued at approximately $98,275,538.31. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vicki A. Hollub acquired 15,000 shares of Occidental Petroleum stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $62.72 per share, with a total value of $940,800.00. Following the completion of the purchase, the insider now owns 76,018 shares in the company, valued at approximately $4,767,848.96. The disclosure for this purchase can be found here. Over the last three months, insiders sold 48,000 shares of company stock valued at $3,030,960. Company insiders own 0.35% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Lenox Wealth Advisors increased its stake in Occidental Petroleum by 5.2% in the fourth quarter. Lenox Wealth Advisors now owns 887 shares of the oil and gas producer’s stock worth $60,000 after buying an additional 44 shares during the period. Kistler Tiffany Companies LLC increased its stake in Occidental Petroleum by 1.4% in the second quarter. Kistler Tiffany Companies LLC now owns 1,346 shares of the oil and gas producer’s stock worth $102,000 after buying an additional 19 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Occidental Petroleum during the first quarter worth $102,000. First New York Securities LLC NY purchased a new stake in Occidental Petroleum during the second quarter worth $110,000. Finally, LSV Asset Management purchased a new stake in Occidental Petroleum during the second quarter worth $111,000. 80.07% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum 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.
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