Occidental Petroleum Corporation (NYSE:OXY) Given Consensus Recommendation of “Hold” by Analysts

Occidental Petroleum Corporation (NYSE:OXY) has been given an average rating of “Hold” by the twenty-six analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $62.9130.

OXY has been the subject of a number of research analyst reports. Citigroup reduced their target price on Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating for the company in a report on Friday, April 17th. Morgan Stanley lifted their target price on Occidental Petroleum from $73.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday. Barclays lifted their target price on Occidental Petroleum from $55.00 to $59.00 and gave the stock an “equal weight” rating in a report on Monday, March 16th. Wells Fargo & Company lifted their price objective on Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Finally, Bank of America lifted their price objective on Occidental Petroleum from $44.00 to $45.00 in a report on Tuesday, January 27th.

Institutional Trading of Occidental Petroleum

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Occidental Petroleum by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock worth $3,696,716,000 after acquiring an additional 699,137 shares during the period. State Street Corp grew its holdings in shares of Occidental Petroleum by 2.1% in the fourth quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock worth $1,635,263,000 after acquiring an additional 828,848 shares during the period. Geode Capital Management LLC grew its holdings in shares of Occidental Petroleum by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock worth $771,949,000 after acquiring an additional 167,518 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Occidental Petroleum by 21.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock worth $436,008,000 after acquiring an additional 1,883,721 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Occidental Petroleum by 18.9% in the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after acquiring an additional 1,071,948 shares during the period. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Stock Down 0.0%

Occidental Petroleum stock opened at $58.82 on Friday. The firm has a market cap of $58.50 billion, a price-to-earnings ratio of 14.82 and a beta of 0.17. The stock has a fifty day simple moving average of $58.94 and a two-hundred day simple moving average of $49.37. Occidental Petroleum has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. The business had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. Equities analysts predict that Occidental Petroleum will post 5.14 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 1.8%. Occidental Petroleum’s payout ratio is presently 26.20%.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.