Occidental Petroleum Corporation (NYSE:OXY) Receives Average Recommendation of “Hold” from Analysts

Shares of Occidental Petroleum Corporation (NYSE:OXY) have earned a consensus rating of “Hold” from the twenty-three analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $54.6522.

Several equities research analysts have issued reports on OXY shares. Melius Research started coverage on shares of Occidental Petroleum in a research note on Wednesday, August 20th. They set a “hold” rating and a $64.00 target price on the stock. Wall Street Zen cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Citigroup boosted their price target 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. Scotiabank boosted their price target on shares of Occidental Petroleum from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Finally, UBS Group boosted their price objective on shares of Occidental Petroleum from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th.

Institutional Trading of Occidental Petroleum

Institutional investors and hedge funds have recently bought and sold shares of the stock. University of Texas Texas AM Investment Management Co. purchased a new stake in Occidental Petroleum in the 2nd quarter valued at about $27,000. Bernard Wealth Management Corp. acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $32,000. Grove Bank & Trust boosted its stake in shares of 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 purchasing an additional 407 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Occidental Petroleum by 1,193.9% in the second quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock valued at $36,000 after purchasing an additional 788 shares during the period. Finally, American National Bank & Trust purchased a new position in shares of Occidental Petroleum in the first quarter valued at approximately $39,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $45.69 on Monday. The firm has a market cap of $44.98 billion, a PE ratio of 27.04 and a beta of 1.04. The firm has a fifty day moving average of $44.93 and a 200 day moving average of $43.79. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.83 and a current ratio of 1.05. Occidental Petroleum has a one year low of $34.78 and a one year high of $56.49.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $6.29 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, research analysts predict that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Occidental Petroleum’s payout ratio is 56.80%.

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.