Occidental Petroleum (NYSE:OXY) PT Raised to $70.00

Occidental Petroleum (NYSE:OXY) had its price target raised by Mizuho from $69.00 to $70.00 in a report released on Thursday, Benzinga reports. Mizuho currently has a neutral rating on the oil and gas producer’s stock.

Several other research firms have also commented on OXY. Truist Financial boosted their price target on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a buy rating in a report on Friday, April 5th. Scotiabank upgraded shares of Occidental Petroleum from a sector perform rating to a sector outperform rating and boosted their price target for the company from $63.00 to $90.00 in a report on Thursday. Stephens restated an overweight rating and issued a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. Barclays started coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They issued an equal weight rating and a $73.00 price target for the company. Finally, HSBC started coverage on shares of Occidental Petroleum in a report on Monday, April 8th. They issued a hold rating and a $65.00 price target for the company. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $72.06.

Occidental Petroleum Trading Down 0.4 %

Shares of OXY opened at $69.01 on Thursday. Occidental Petroleum has a 1-year low of $55.12 and a 1-year high of $71.18. The company has a 50-day moving average of $62.47 and a 200 day moving average of $61.03. The firm has a market capitalization of $61.17 billion, a price-to-earnings ratio of 17.65 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business posted $1.61 EPS. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, research analysts expect that Occidental Petroleum will post 3.84 EPS for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 8th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s payout ratio is currently 22.51%.

Institutional Trading of Occidental Petroleum

Several large investors have recently bought and sold shares of the stock. Berkshire Hathaway Inc grew its position in Occidental Petroleum by 8.7% during the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock worth $14,552,271,000 after purchasing an additional 19,586,612 shares during the last quarter. Bank of New York Mellon Corp grew its position in Occidental Petroleum by 24.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock worth $779,983,000 after purchasing an additional 2,334,651 shares during the last quarter. Pacer Advisors Inc. grew its position in Occidental Petroleum by 22.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock worth $357,977,000 after purchasing an additional 1,088,052 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Occidental Petroleum by 2.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,035,799 shares of the oil and gas producer’s stock worth $285,732,000 after purchasing an additional 118,928 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Occidental Petroleum by 2.8% during the 3rd quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock valued at $302,697,000 after acquiring an additional 125,927 shares during the period. Hedge funds and other institutional investors 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.