Occidental Petroleum (NYSE:OXY) Price Target Raised to $46.00 at UBS Group

Occidental Petroleum (NYSE:OXY) had its price objective boosted by UBS Group from $45.00 to $46.00 in a report released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

OXY has been the subject of a number of other research reports. Wells Fargo & Company dropped their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Wall Street Zen downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. lifted their target price on shares of Occidental Petroleum from $47.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Piper Sandler lifted their target price on shares of Occidental Petroleum from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Finally, Citigroup lifted their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, May 19th. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $54.70.

Occidental Petroleum Trading Down 0.4%

OXY opened at $45.49 on Monday. Occidental Petroleum has a twelve month low of $34.78 and a twelve month high of $56.49. The company has a 50-day simple moving average of $44.97 and a 200 day simple moving average of $43.76. 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 stock has a market capitalization of $44.78 billion, a price-to-earnings ratio of 26.92 and a beta of 1.04.

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

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, September 10th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $0.96 annualized dividend and a yield of 2.1%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 56.80%.

Institutional Trading of Occidental Petroleum

Several hedge funds have recently bought and sold shares of OXY. Quantinno Capital Management LP grew its position in Occidental Petroleum by 57.8% in the 4th quarter. Quantinno Capital Management LP now owns 52,678 shares of the oil and gas producer’s stock valued at $2,603,000 after purchasing an additional 19,305 shares during the period. ProShare Advisors LLC boosted its holdings in Occidental Petroleum by 5.9% during the 4th quarter. ProShare Advisors LLC now owns 126,647 shares of the oil and gas producer’s stock worth $6,258,000 after acquiring an additional 7,038 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Occidental Petroleum by 1,253.6% during the 4th quarter. Two Sigma Investments LP now owns 745,824 shares of the oil and gas producer’s stock worth $36,851,000 after acquiring an additional 690,724 shares during the last quarter. Two Sigma Advisers LP purchased a new position in Occidental Petroleum during the 4th quarter worth $1,675,000. Finally, Visionary Wealth Advisors boosted its holdings in Occidental Petroleum by 26.9% during the 4th quarter. Visionary Wealth Advisors now owns 25,147 shares of the oil and gas producer’s stock worth $1,243,000 after acquiring an additional 5,328 shares during the last quarter. 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.