Occidental Petroleum (NYSE:OXY) PT Lowered to $56.00 at Truist Financial

Occidental Petroleum (NYSE:OXY) had its price objective cut by Truist Financial from $65.00 to $56.00 in a report published on Monday, Benzinga reports. They currently have a hold rating on the oil and gas producer’s stock.

Other equities analysts have also issued research reports about the company. Mizuho lowered their price objective on Occidental Petroleum from $76.00 to $72.00 and set a neutral rating on the stock in a research note on Monday, September 16th. Susquehanna decreased their price target on Occidental Petroleum from $81.00 to $78.00 and set a positive rating on the stock in a research report on Wednesday, September 4th. Scotiabank reduced their price objective on shares of Occidental Petroleum from $90.00 to $80.00 and set a sector outperform rating on the stock in a research note on Friday, July 12th. Wolfe Research began coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an outperform rating and a $81.00 target price for the company. Finally, UBS Group decreased their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a neutral rating on the stock in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of Hold and a consensus price target of $67.31.

Occidental Petroleum Stock Up 2.5 %

OXY opened at $54.78 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The stock has a fifty day moving average of $55.17 and a 200-day moving average of $60.67. Occidental Petroleum has a fifty-two week low of $49.75 and a fifty-two week high of $71.18. The company has a market capitalization of $49.61 billion, a P/E ratio of 14.97 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the company earned $0.68 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, equities analysts expect that Occidental Petroleum will post 3.57 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.61%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insiders Place Their Bets

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CapWealth Advisors LLC raised its stake in Occidental Petroleum by 2.7% during the first quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after buying an additional 162 shares during the last quarter. Meeder Advisory Services Inc. raised its position in shares of Occidental Petroleum by 2.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after acquiring an additional 164 shares in the last quarter. Investment Research & Advisory Group Inc. lifted its stake in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares during the period. Earnest Partners LLC boosted its position in shares of Occidental Petroleum by 2.6% during the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after purchasing an additional 173 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its stake in Occidental Petroleum by 0.8% during the first quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock worth $1,359,000 after purchasing an additional 175 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.