Analysts Set Occidental Petroleum Corporation (NYSE:OXY) PT at $54.65

Occidental Petroleum Corporation (NYSE:OXY) has received an average recommendation of “Hold” from the twenty-three research firms that are presently 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 given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $54.6522.

A number of analysts have recently weighed in on the stock. Melius Research assumed coverage on shares of Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $52.00 price target on shares of Occidental Petroleum in a report on Monday, August 18th. Scotiabank upped their price target on shares of Occidental Petroleum from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Friday, July 11th. Finally, Citigroup raised their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, May 19th.

Occidental Petroleum Stock Performance

NYSE OXY opened at $46.91 on Thursday. The firm has a 50-day moving average price of $44.21 and a two-hundred day moving average price of $44.07. Occidental Petroleum has a 12-month low of $34.78 and a 12-month high of $57.57. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $46.18 billion, a P/E ratio of 27.76 and a beta of 0.91.

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

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be given a $0.24 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.0%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 56.80%.

Institutional Trading of Occidental Petroleum

Hedge funds have recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. acquired a new stake in Occidental Petroleum in the second quarter valued at approximately $27,000. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum in the fourth quarter valued at approximately $32,000. Grove Bank & Trust boosted its position in Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock valued at $36,000 after buying an additional 407 shares in the last quarter. American National Bank & Trust bought a new position in shares of Occidental Petroleum during the first quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Occidental Petroleum during the first quarter valued at $39,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

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.