Wolfe Research Downgrades Occidental Petroleum (NYSE:OXY) to Peer Perform

Wolfe Research lowered shares of Occidental Petroleum (NYSE:OXYFree Report) from an outperform rating to a peer perform rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

A number of other research analysts also recently commented on OXY. Raymond James dropped their price objective on shares of Occidental Petroleum from $80.00 to $75.00 and set a strong-buy rating for the company in a research note on Monday, July 24th. Susquehanna upped their price objective on shares of Occidental Petroleum from $72.00 to $78.00 and gave the company a positive rating in a research note on Wednesday, October 18th. Roth Mkm reaffirmed a neutral rating and set a $60.00 price objective on shares of Occidental Petroleum in a research note on Tuesday, September 12th. Morgan Stanley upped their price objective on shares of Occidental Petroleum from $60.00 to $62.00 and gave the company an equal weight rating in a research note on Friday, August 18th. Finally, Mizuho upped their price objective on shares of Occidental Petroleum from $75.00 to $76.00 and gave the company a buy rating in a research note on Monday, September 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $71.13.

Check Out Our Latest Report on Occidental Petroleum

Occidental Petroleum Trading Up 0.7 %

Shares of OXY stock opened at $60.98 on Friday. The firm has a 50-day moving average price of $63.69 and a 200 day moving average price of $61.49. Occidental Petroleum has a twelve month low of $55.51 and a twelve month high of $75.78. The company has a market capitalization of $53.68 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.69 and a beta of 1.70. The company has a current ratio of 0.92, a quick ratio of 0.73 and a debt-to-equity ratio of 0.88.

Occidental Petroleum (NYSE:OXYGet Free Report) last announced its earnings results on Tuesday, November 7th. The oil and gas producer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.29. Occidental Petroleum had a net margin of 18.26% and a return on equity of 25.39%. The firm had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the previous year, the company posted $2.44 EPS. The firm’s revenue for the quarter was down 22.1% on a year-over-year basis. Research analysts forecast that Occidental Petroleum will post 4.11 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 8th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Thursday, December 7th. Occidental Petroleum’s dividend payout ratio is presently 15.75%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc bought 1,040,067 shares of Occidental Petroleum stock in a transaction dated Wednesday, October 25th. The stock was bought at an average cost of $63.05 per share, for a total transaction of $65,576,224.35. Following the purchase, the insider now owns 228,051,027 shares in the company, valued at approximately $14,378,617,252.35. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $25.00, for a total transaction of $127,500,000.00. Following the completion of the transaction, the insider now directly owns 185,181,578 shares in the company, valued at approximately $4,629,539,450. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Berkshire Hathaway Inc bought 1,040,067 shares of Occidental Petroleum stock in a transaction dated Wednesday, October 25th. The shares were acquired at an average price of $63.05 per share, with a total value of $65,576,224.35. Following the completion of the purchase, the insider now owns 228,051,027 shares in the company, valued at approximately $14,378,617,252.35. The disclosure for this purchase can be found here. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rational Advisors LLC acquired a new stake in shares of Occidental Petroleum during the 3rd quarter valued at approximately $54,000. Tocqueville Asset Management L.P. raised its position in shares of Occidental Petroleum by 25.8% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 375,849 shares of the oil and gas producer’s stock valued at $24,385,000 after acquiring an additional 77,057 shares in the last quarter. Greenleaf Trust raised its position in shares of Occidental Petroleum by 25.6% during the 3rd quarter. Greenleaf Trust now owns 14,991 shares of the oil and gas producer’s stock valued at $973,000 after acquiring an additional 3,053 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Occidental Petroleum during the 3rd quarter valued at approximately $522,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Occidental Petroleum by 6.5% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 133,411 shares of the oil and gas producer’s stock valued at $8,656,000 after acquiring an additional 8,104 shares in the last quarter. 77.54% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Company Profile

(Get Free Report)

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

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