Occidental Petroleum Corporation (NYSE:OXY) had its price target decreased by BMO Capital Markets from $60.00 to $55.00 in a research report released on Friday. BMO Capital Markets currently has a market perform rating on the oil and gas producer’s stock.
A number of other equities research analysts also recently commented on OXY. Bank of America Corporation restated a buy rating and issued a $80.00 price objective (down previously from $83.00) on shares of Occidental Petroleum Corporation in a research report on Thursday, May 11th. Cowen and Company restated a buy rating and issued a $80.00 price objective on shares of Occidental Petroleum Corporation in a research report on Tuesday, May 23rd. Scotiabank set a $68.00 price objective on shares of Occidental Petroleum Corporation and gave the company a hold rating in a research report on Monday, March 27th. Mizuho restated a neutral rating and issued a $67.00 price objective on shares of Occidental Petroleum Corporation in a research report on Tuesday, March 28th. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Occidental Petroleum Corporation in a research report on Monday, May 29th. They issued a hold rating and a $69.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Occidental Petroleum Corporation currently has a consensus rating of Hold and a consensus price target of $69.61.
Occidental Petroleum Corporation (OXY) traded up 0.37% on Friday, reaching $60.04. The company’s stock had a trading volume of 3,966,824 shares. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $78.48. The company has a 50 day moving average of $60.48 and a 200 day moving average of $64.70. The firm’s market capitalization is $45.91 billion.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. Occidental Petroleum Corporation had a negative return on equity of 1.04% and a negative net margin of 4.82%. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the company posted ($0.47) earnings per share. The business’s revenue was up 30.6% on a year-over-year basis. On average, analysts forecast that Occidental Petroleum Corporation will post $0.76 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.13%. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is -428.17%.
In other news, Director Stephen I. Chazen sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $61.77, for a total transaction of $247,080.00. Following the completion of the transaction, the director now directly owns 1,468,619 shares of the company’s stock, valued at approximately $90,716,595.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Cedric W. Burgher acquired 1,700 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were acquired at an average cost of $59.85 per share, with a total value of $101,745.00. Following the completion of the purchase, the chief financial officer now owns 44,124 shares in the company, valued at $2,640,821.40. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 16,000 shares of company stock valued at $978,600. Corporate insiders own 0.32% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Occidental Petroleum Corporation during the first quarter worth $102,000. Parallel Advisors LLC boosted its position in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 264 shares during the period. Mosaic Family Wealth LLC boosted its position in shares of Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 72 shares during the period. FNY Partners Fund LP acquired a new position in shares of Occidental Petroleum Corporation during the first quarter worth $126,000. Finally, Advantage Investment Management LLC acquired a new position in shares of Occidental Petroleum Corporation during the fourth quarter worth $139,000. 81.50% of the stock is owned by institutional investors and hedge funds.
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.
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