Occidental Petroleum Corporation (NYSE:OXY) Receives Consensus Rating of “Hold” from Brokerages

Occidental Petroleum Corporation (NYSE:OXY) has received a consensus rating of “Hold” from the twenty-five analysts that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $52.2609.

OXY has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $52.00 target price on shares of Occidental Petroleum in a report on Monday, August 18th. Roth Capital raised their price objective on Occidental Petroleum from $45.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, October 2nd. Mizuho raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $58.00 to $60.00 in a report on Friday, October 3rd. Wells Fargo & Company initiated coverage on shares of Occidental Petroleum in a report on Friday, October 17th. They set an “underweight” rating and a $42.00 target price on the stock. Finally, Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd.

Institutional Trading of Occidental Petroleum

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Occidental Petroleum by 10.3% during the 2nd quarter. Vanguard Group Inc. now owns 88,504,019 shares of the oil and gas producer’s stock worth $3,718,054,000 after buying an additional 8,273,030 shares during the last quarter. State Street Corp increased its holdings in shares of Occidental Petroleum by 1.6% in the 2nd quarter. State Street Corp now owns 39,044,478 shares of the oil and gas producer’s stock worth $1,649,147,000 after acquiring an additional 615,566 shares during the period. Geode Capital Management LLC lifted its position in Occidental Petroleum by 22.0% in the 2nd quarter. Geode Capital Management LLC now owns 18,089,878 shares of the oil and gas producer’s stock valued at $756,796,000 after purchasing an additional 3,267,269 shares during the last quarter. H&H International Investment LLC boosted its stake in Occidental Petroleum by 1.8% during the 1st quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer’s stock valued at $682,456,000 after purchasing an additional 249,100 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Occidental Petroleum by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after purchasing an additional 710,220 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Trading Down 0.6%

OXY opened at $40.94 on Tuesday. Occidental Petroleum has a 12-month low of $34.78 and a 12-month high of $53.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The stock has a market capitalization of $40.30 billion, a PE ratio of 24.23 and a beta of 0.95. The firm’s fifty day moving average price is $44.76 and its 200 day moving average price is $43.66.

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

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.