Occidental Petroleum Corporation (NYSE:OXY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Occidental Petroleum Corporation (NYSE:OXY) have been given an average rating of “Hold” by the twenty-six brokerages that are currently covering the stock, Marketbeat reports. Sixteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $64.4783.

Several equities analysts have commented on the company. Capital One Financial increased their target price on Occidental Petroleum from $67.00 to $70.00 in a research report on Wednesday, May 27th. Truist Financial reduced their price target on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Zacks Research lowered shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. JPMorgan Chase & Co. cut their target price on shares of Occidental Petroleum from $64.00 to $63.00 in a research report on Thursday, May 7th. Finally, Raymond James Financial boosted their target price on shares of Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 4th.

Occidental Petroleum Price Performance

Shares of NYSE OXY traded up $0.56 during midday trading on Friday, reaching $52.87. 6,607,526 shares of the company were exchanged, compared to its average volume of 9,225,030. The stock’s 50-day moving average price is $55.01 and its 200-day moving average price is $52.46. The stock has a market cap of $52.58 billion, a P/E ratio of 13.32 and a beta of 0.15. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49. Occidental Petroleum has a one year low of $38.80 and a one year high of $67.45.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.Occidental Petroleum’s revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. On average, sell-side analysts anticipate that Occidental Petroleum will post 5.93 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum’s payout ratio is 26.20%.

Insiders Place Their Bets

In related news, CEO Richard A. Jackson acquired 4,770 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the completion of the acquisition, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This trade represents a 1.09% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Occidental Petroleum

A number of institutional investors have recently made changes to their positions in the stock. Lighthouse Investment Partners LLC bought a new stake in Occidental Petroleum during the third quarter worth $22,345,000. Mirabella Financial Services LLP raised its position in Occidental Petroleum by 154.7% in the 3rd quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer’s stock valued at $1,394,000 after buying an additional 17,958 shares during the last quarter. National Pension Service lifted its stake in Occidental Petroleum by 13.0% during the 4th quarter. National Pension Service now owns 1,084,356 shares of the oil and gas producer’s stock valued at $44,589,000 after acquiring an additional 124,879 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Occidental Petroleum by 0.8% during the 4th 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 last quarter. Finally, Cooperman Leon G purchased a new position in Occidental Petroleum during the 3rd quarter worth $15,947,000. Institutional investors own 88.70% of the company’s stock.

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.