Occidental Petroleum Corporation (OXY) Given Consensus Rating of “Hold” by Analysts

Occidental Petroleum Corporation (NYSE:OXY) has earned a consensus rating of “Hold” from the nineteen ratings firms that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $65.14.

OXY has been the subject of several analyst reports. Cowen and Company restated a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum Corporation in a report on Tuesday, May 23rd. Credit Suisse Group restated a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum Corporation in a report on Friday, May 19th. Scotiabank restated a “hold” rating and issued a $68.00 price objective on shares of Occidental Petroleum Corporation in a report on Monday, May 15th. Jefferies Group LLC restated a “hold” rating and issued a $70.00 price objective on shares of Occidental Petroleum Corporation in a report on Monday, May 15th. Finally, BMO Capital Markets restated a “hold” rating and issued a $65.00 price objective on shares of Occidental Petroleum Corporation in a report on Thursday, June 22nd.

In related news, Director William R. Klesse acquired 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the transaction, the director now directly owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Occidental Petroleum Corporation during the first quarter worth approximately $102,000. Grove Bank & Trust lifted its position in Occidental Petroleum Corporation by 54.8% during the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after acquiring an additional 622 shares during the last quarter. Oakworth Capital Inc. lifted its position in Occidental Petroleum Corporation by 14.7% during the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after acquiring an additional 250 shares during the last quarter. Parallel Advisors LLC lifted its position in Occidental Petroleum Corporation by 15.6% during the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $118,000 after acquiring an additional 264 shares during the last quarter. Finally, Mosaic Family Wealth LLC lifted its position in Occidental Petroleum Corporation by 4.0% during the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock worth $120,000 after acquiring an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 80.85% of the company’s stock.

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Shares of Occidental Petroleum Corporation (NYSE OXY) opened at 60.41 on Tuesday. The company has a market cap of $46.19 billion, a P/E ratio of 425.42 and a beta of 0.66. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $75.60. The stock’s 50 day moving average price is $60.57 and its 200 day moving average price is $61.42.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. Occidental Petroleum Corporation’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.18) EPS. Equities research analysts forecast that Occidental Petroleum Corporation will post $0.67 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 5.10%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,369.23%.

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.

Analyst Recommendations for Occidental Petroleum Corporation (NYSE:OXY)

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