Occidental Petroleum Corporation (OXY) Given Average Rating of “Hold” by Brokerages
Shares of Occidental Petroleum Corporation (NYSE:OXY) have received an average rating of “Hold” from the eighteen analysts that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $66.38.
A number of equities research analysts have recently weighed in on the company. Scotiabank restated a “hold” rating and set a $68.00 price target on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Zacks Investment Research upgraded Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. BMO Capital Markets set a $65.00 price target on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Thursday, May 4th. Jefferies Group LLC restated a “hold” rating and set a $64.00 price target on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. Finally, BidaskClub upgraded Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st.
In related news, CFO Cedric W. Burgher acquired 1,700 shares of the stock in a transaction on Wednesday, June 7th. The shares were acquired at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the transaction, the chief financial officer now owns 44,124 shares in the company, valued at approximately $2,640,821.40. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director William R. Klesse acquired 10,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was bought at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the transaction, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The disclosure for this purchase can be found here. Corporate insiders own 0.32% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in OXY. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Occidental Petroleum Corporation during the first quarter valued at approximately $102,000. Grove Bank & Trust raised its stake in Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 622 shares in the last quarter. Mosaic Family Wealth LLC raised its stake in Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock valued at $120,000 after buying an additional 72 shares in the last quarter. Oakworth Capital Inc. raised its stake in Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after buying an additional 250 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 264 shares in the last quarter. Institutional investors and hedge funds own 81.42% of the company’s stock.
Shares of Occidental Petroleum Corporation (NYSE OXY) opened at 58.92 on Friday. The stock has a market cap of $45.05 billion, a P/E ratio of 414.93 and a beta of 0.65. The stock’s 50 day moving average is $60.55 and its 200-day moving average is $62.36. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $78.48.
Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. The company’s revenue was up 40.9% on a year-over-year basis. On average, equities analysts forecast that Occidental Petroleum Corporation will post $0.66 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $3.08 dividend on an annualized basis and a yield of 5.23%. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio is currently 2,338.46%.
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.
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