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

Occidental Petroleum Corporation (NYSE:OXY) has received a consensus recommendation of “Hold” from the twenty-three research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $54.6522.

OXY has been the topic of several research reports. UBS Group increased their price objective on shares of Occidental Petroleum from $42.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday. Mizuho cut their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. JPMorgan Chase & Co. raised their price target on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company dropped their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 15th.

Occidental Petroleum Trading Up 0.6%

NYSE:OXY opened at $44.2450 on Thursday. Occidental Petroleum has a 12-month low of $34.78 and a 12-month high of $58.47. The stock’s 50 day simple moving average is $44.18 and its 200-day simple moving average is $44.11. The firm has a market cap of $43.56 billion, a P/E ratio of 26.18 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. Equities analysts anticipate that Occidental Petroleum will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Occidental Petroleum’s dividend payout ratio is presently 56.80%.

Institutional Investors Weigh In On Occidental Petroleum

Hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. acquired a new position in shares of Occidental Petroleum during the 2nd quarter valued at $335,000. Marex Group plc bought a new stake in shares of Occidental Petroleum in the 2nd quarter worth $573,000. Westwood Holdings Group Inc. grew its stake in shares of Occidental Petroleum by 10.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 11,398 shares of the oil and gas producer’s stock worth $479,000 after acquiring an additional 1,118 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in Occidental Petroleum during the second quarter valued at about $73,000. Finally, Evergreen Capital Management LLC grew its position in Occidental Petroleum by 8.0% during the second quarter. Evergreen Capital Management LLC now owns 6,986 shares of the oil and gas producer’s stock valued at $295,000 after buying an additional 520 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.