Occidental Petroleum Co. (OXY) Given a $80.00 Price Target at Cowen and Company
Occidental Petroleum Co. (NYSE:OXY) received a $80.00 price target from stock analysts at Cowen and Company in a note issued to investors on Tuesday. The firm presently has a “buy” rating on the oil and gas producer’s stock. Cowen and Company’s target price points to a potential upside of 29.95% from the company’s current price.
A number of other research analysts also recently commented on OXY. Barclays PLC lowered their price objective on Occidental Petroleum from $63.00 to $62.00 and set an “underweight” rating for the company in a research note on Thursday, January 26th. Scotiabank restated a “hold” rating on shares of Occidental Petroleum in a research note on Friday, February 10th. Mizuho upgraded Occidental Petroleum from a “neutral” rating to an “outperform” rating in a research note on Monday, February 13th. They noted that the move was a valuation call. Evercore ISI downgraded Occidental Petroleum to a “buy” rating in a research note on Friday, March 3rd. Finally, Credit Suisse Group AG upgraded Occidental Petroleum from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $70.00 to $79.00 in a research note on Tuesday, March 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $72.19.
Shares of Occidental Petroleum (NYSE:OXY) traded up 1.60% during midday trading on Tuesday, hitting $61.56. The stock had a trading volume of 3,826,682 shares. The stock’s market capitalization is $47.07 billion. The stock has a 50 day moving average price of $61.80 and a 200-day moving average price of $66.23. Occidental Petroleum has a 52 week low of $57.20 and a 52 week high of $78.48.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Thursday, May 4th. The oil and gas producer reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.96 billion. Occidental Petroleum had a negative return on equity of 3.40% and a negative net margin of 5.52%. The firm’s revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.47) EPS. Equities research analysts anticipate that Occidental Petroleum will post $1.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 9th will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, June 7th. This represents a $3.04 dividend on an annualized basis and a yield of 4.94%. Occidental Petroleum’s dividend payout ratio (DPR) is presently -400.00%.
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In other Occidental Petroleum news, Director Stephen I. Chazen sold 4,000 shares of the business’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $66.26, for a total transaction of $265,040.00. Following the completion of the transaction, the director now owns 1,529,619 shares in the company, valued at approximately $101,352,554.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vicki A. Hollub purchased 15,000 shares of Occidental Petroleum stock in a transaction on Monday, March 13th. The shares were acquired at an average price of $62.72 per share, with a total value of $940,800.00. Following the transaction, the insider now directly owns 76,018 shares in the company, valued at approximately $4,767,848.96. The disclosure for this purchase can be found here. Insiders have sold a total of 48,000 shares of company stock valued at $3,030,960 in the last quarter. 0.35% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in OXY. Apriem Advisors raised its stake in shares of Occidental Petroleum by 24.8% in the third quarter. Apriem Advisors now owns 1,522 shares of the oil and gas producer’s stock valued at $111,000 after buying an additional 302 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Occidental Petroleum during the first quarter valued at $102,000. Parallel Advisors LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at $121,000. Mosaic Family Wealth LLC raised its stake in shares of Occidental Petroleum by 4.3% in the third quarter. Mosaic Family Wealth LLC now owns 1,815 shares of the oil and gas producer’s stock valued at $132,000 after buying an additional 75 shares during the period. Finally, Advantage Investment Management LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at $139,000. Institutional investors and hedge funds own 80.07% of the company’s stock.
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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