Occidental Petroleum Co. (NYSE:OXY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Occidental Petroleum Co. (NYSE:OXYGet Rating) have received a consensus rating of “Moderate Buy” from the twenty-one brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $70.53.

OXY has been the subject of several analyst reports. Stifel Nicolaus assumed coverage on Occidental Petroleum in a research report on Tuesday, April 5th. They set a “buy” rating and a $84.00 price objective for the company. Susquehanna Bancshares upped their target price on Occidental Petroleum from $71.00 to $73.00 in a research report on Thursday, May 12th. Truist Financial upped their target price on Occidental Petroleum from $93.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James upped their target price on Occidental Petroleum from $85.00 to $90.00 and gave the stock a “strong-buy” rating in a research report on Monday, April 25th. Finally, Societe Generale set a $81.00 target price on Occidental Petroleum in a research report on Monday, June 20th.

Occidental Petroleum Stock Performance

Shares of NYSE OXY opened at $61.06 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 1.71. The stock has a 50 day simple moving average of $62.60 and a 200-day simple moving average of $53.78. The company has a market cap of $57.22 billion, a PE ratio of 9.29, a P/E/G ratio of 0.49 and a beta of 1.92. Occidental Petroleum has a 12-month low of $21.62 and a 12-month high of $74.04.

Occidental Petroleum (NYSE:OXYGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The oil and gas producer reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.15. The business had revenue of $8.53 billion during the quarter, compared to the consensus estimate of $8.06 billion. Occidental Petroleum had a return on equity of 47.28% and a net margin of 25.01%. The business’s revenue was up 61.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) earnings per share. On average, equities research analysts forecast that Occidental Petroleum will post 10.52 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, June 10th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Thursday, June 9th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 7.91%.

Insider Buying and Selling at Occidental Petroleum

In other news, major shareholder Berkshire Hathaway Inc bought 5,867,118 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were bought at an average cost of $57.10 per share, with a total value of $335,012,437.80. Following the purchase, the insider now directly owns 142,240,118 shares in the company, valued at $8,121,910,737.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Berkshire Hathaway Inc purchased 5,867,118 shares of the company’s stock in a transaction dated Monday, May 2nd. The shares were acquired at an average cost of $57.10 per share, with a total value of $335,012,437.80. Following the completion of the purchase, the insider now owns 142,240,118 shares of the company’s stock, valued at approximately $8,121,910,737.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Christopher O. Champion sold 111,594 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $70.44, for a total transaction of $7,860,681.36. Following the completion of the transaction, the chief accounting officer now directly owns 38,303 shares in the company, valued at $2,698,063.32. The disclosure for this sale can be found here. Insiders have bought a total of 34,473,254 shares of company stock valued at $1,977,289,204 in the last three months. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Occidental Petroleum by 2.4% in the first quarter. Vanguard Group Inc. now owns 101,902,647 shares of the oil and gas producer’s stock worth $5,781,956,000 after purchasing an additional 2,385,883 shares in the last quarter. GQG Partners LLC boosted its holdings in Occidental Petroleum by 16.1% in the first quarter. GQG Partners LLC now owns 26,669,384 shares of the oil and gas producer’s stock worth $1,512,799,000 after purchasing an additional 3,690,561 shares in the last quarter. JB Investments Management LLC boosted its holdings in Occidental Petroleum by 1.8% in the fourth quarter. JB Investments Management LLC now owns 22,386,287 shares of the oil and gas producer’s stock worth $648,978,000 after purchasing an additional 394,537 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Occidental Petroleum by 4.6% in the first quarter. Dimensional Fund Advisors LP now owns 11,669,881 shares of the oil and gas producer’s stock worth $662,225,000 after purchasing an additional 514,934 shares in the last quarter. Finally, Laurion Capital Management LP boosted its holdings in Occidental Petroleum by 152.8% in the fourth quarter. Laurion Capital Management LP now owns 5,080,754 shares of the oil and gas producer’s stock worth $147,291,000 after purchasing an additional 3,071,233 shares in the last quarter. 86.15% of the stock is owned by institutional investors and hedge funds.

About Occidental Petroleum

(Get Rating)

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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.

See Also

Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.