Occidental Petroleum (NYSE:OXY) Price Target Cut to $45.00 by Analysts at UBS Group

Occidental Petroleum (NYSE:OXY) had its price objective lowered by UBS Group from $46.00 to $45.00 in a research report sent to investors on Friday,Benzinga reports. UBS Group currently has a neutral rating on the oil and gas producer’s stock.

Several other equities research analysts have also issued reports on the stock. Piper Sandler boosted their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Melius Research started coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They issued a “hold” rating and a $64.00 target price on the stock. Melius started coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target for the company. Wells Fargo & Company lowered their price objective on Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 15th. Finally, JPMorgan Chase & Co. raised their target price on Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, sixteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $52.87.

Occidental Petroleum Trading Up 1.4%

Occidental Petroleum stock opened at $44.86 on Friday. The business has a 50 day moving average price of $45.63 and a two-hundred day moving average price of $43.76. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum has a 12 month low of $34.78 and a 12 month high of $56.49. The stock has a market cap of $44.16 billion, a price-to-earnings ratio of 26.54 and a beta of 0.95.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.Occidental Petroleum’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. As a group, equities analysts forecast that Occidental Petroleum will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 56.80%.

Institutional Trading of Occidental Petroleum

Several large investors have recently made changes to their positions in OXY. University of Texas Texas AM Investment Management Co. bought a new position in shares of Occidental Petroleum in the second quarter valued at about $27,000. Grove Bank & Trust raised its stake in shares of Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after acquiring an additional 407 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Occidental Petroleum by 1,193.9% during the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 788 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Occidental Petroleum during the first quarter valued at approximately $39,000. Finally, MeadowBrook Investment Advisors LLC increased its holdings in shares of Occidental Petroleum by 371.7% in the second quarter. MeadowBrook Investment Advisors LLC now owns 1,000 shares of the oil and gas producer’s stock valued at $42,000 after purchasing an additional 788 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.