Barclays PLC reaffirmed their sell rating on shares of Occidental Petroleum Co. (NYSE:OXY) in a research report released on Thursday, April 20th. Barclays PLC currently has a $50.00 target price on the oil and gas producer’s stock, down from their previous target price of $62.00.
Other equities analysts have also issued research reports about the company. BMO Capital Markets lowered Occidental Petroleum from an outperform rating to a market perform rating and set a $70.00 target price on the stock. in a report on Wednesday, January 11th. They noted that the move was a valuation call. Simmons increased their target price on Occidental Petroleum from $71.00 to $75.00 and gave the company a neutral rating in a report on Wednesday, April 19th. Scotiabank reissued a hold rating on shares of Occidental Petroleum in a report on Friday, February 10th. Jefferies Group LLC reissued a hold rating and issued a $73.00 target price on shares of Occidental Petroleum in a report on Friday, March 31st. Finally, Mizuho restated a neutral rating and issued a $67.00 price objective on shares of Occidental Petroleum in a research note on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $71.51.
Shares of Occidental Petroleum (NYSE:OXY) opened at 60.64 on Thursday. The firm’s market cap is $46.36 billion. The stock has a 50 day moving average price of $61.94 and a 200-day moving average price of $66.35. Occidental Petroleum has a 52-week low of $57.20 and a 52-week high of $78.48.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.96 billion. Occidental Petroleum had a negative return on equity of 3.40% and a negative net margin of 5.52%. Occidental Petroleum’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.47) earnings per share. On average, equities analysts anticipate that Occidental Petroleum will post $1.01 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 9th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $3.04 annualized dividend and a yield of 5.04%. Occidental Petroleum’s dividend payout ratio is currently -400.00%.
In related news, insider Vicki A. Hollub bought 15,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was bought at an average cost of $62.72 per share, with a total value of $940,800.00. Following the completion of the acquisition, the insider now owns 76,018 shares in the company, valued at approximately $4,767,848.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen I. Chazen sold 4,000 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $60.53, for a total transaction of $242,120.00. Following the completion of the transaction, the director now directly owns 1,460,619 shares of the company’s stock, valued at $88,411,268.07. The disclosure for this sale can be found here. Insiders have sold 48,000 shares of company stock valued at $3,030,960 over the last three months. 0.35% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Occidental Petroleum during the first quarter worth about $102,000. Apriem Advisors boosted its position 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 worth $111,000 after buying an additional 302 shares during the period. Financial Architects Inc boosted its position in shares of Occidental Petroleum by 47.5% in the third quarter. Financial Architects Inc now owns 1,524 shares of the oil and gas producer’s stock worth $112,000 after buying an additional 491 shares during the period. Enterprise Financial Services Corp boosted its position in shares of Occidental Petroleum by 36.3% in the third quarter. Enterprise Financial Services Corp now owns 1,553 shares of the oil and gas producer’s stock worth $113,000 after buying an additional 414 shares during the period. Finally, Oakworth Capital Inc. boosted its position in shares of Occidental Petroleum by 4.9% in the third quarter. Oakworth Capital Inc. now owns 1,596 shares of the oil and gas producer’s stock worth $116,000 after buying an additional 75 shares during the period. 80.07% of the stock is owned by institutional investors.
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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