Occidental Petroleum Co. (OXY) Receives Average Rating of “Hold” from Analysts

Shares of Occidental Petroleum Co. (NYSE:OXY) have earned a consensus rating of “Hold” from the twenty-one brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $70.07.

Several research analysts have weighed in on OXY shares. Scotiabank restated a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum in a research report on Wednesday, November 22nd. Mizuho set a $79.00 target price on shares of Occidental Petroleum and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Credit Suisse Group assumed coverage on shares of Occidental Petroleum in a research report on Monday, December 11th. They issued a “neutral” rating and a $62.00 price target on the stock. Cowen set a $85.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a research report on Thursday, January 18th. Finally, Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $85.00 price target on the stock in a research report on Thursday, January 4th.

Occidental Petroleum (OXY) opened at $68.47 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. Occidental Petroleum has a 1 year low of $57.20 and a 1 year high of $78.09. The firm has a market cap of $53,467.70, a PE ratio of 97.81, a price-to-earnings-growth ratio of 4.48 and a beta of 0.53.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.50%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 440.00%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Westwood Holdings Group Inc. raised its stake in Occidental Petroleum by 2.6% during the second quarter. Westwood Holdings Group Inc. now owns 10,728 shares of the oil and gas producer’s stock worth $642,000 after purchasing an additional 273 shares during the period. Orleans Capital Management Corp LA raised its stake in Occidental Petroleum by 1.3% during the second quarter. Orleans Capital Management Corp LA now owns 22,594 shares of the oil and gas producer’s stock worth $1,353,000 after purchasing an additional 300 shares during the period. Atlantic Trust LLC raised its stake in Occidental Petroleum by 23.8% during the second quarter. Atlantic Trust LLC now owns 2,785 shares of the oil and gas producer’s stock worth $154,000 after purchasing an additional 535 shares during the period. Tompkins Financial Corp raised its stake in Occidental Petroleum by 1.9% during the fourth quarter. Tompkins Financial Corp now owns 36,177 shares of the oil and gas producer’s stock worth $2,664,000 after purchasing an additional 661 shares during the period. Finally, Koshinski Asset Management Inc. raised its stake in Occidental Petroleum by 3.8% during the fourth quarter. Koshinski Asset Management Inc. now owns 18,357 shares of the oil and gas producer’s stock worth $1,352,000 after purchasing an additional 679 shares during the period. Hedge funds and other institutional investors own 80.21% of the company’s stock.

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About Occidental Petroleum

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.

Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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