Occidental Petroleum (NYSE:OXY) Price Target Lowered to $51.00 at Susquehanna

Occidental Petroleum (NYSE:OXY) had its price objective decreased by Susquehanna from $55.00 to $51.00 in a research note released on Monday morning,Benzinga reports. Susquehanna currently has a positive rating on the oil and gas producer’s stock.

OXY has been the subject of a number of other reports. Evercore ISI reduced their price target on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research report on Friday, October 3rd. Raymond James Financial reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of Occidental Petroleum in a research note on Tuesday, November 25th. Wells Fargo & Company decreased their target price on Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 12th. Morgan Stanley dropped their price target on Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday. Finally, BMO Capital Markets decreased their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $47.38.

Occidental Petroleum Trading Down 0.4%

NYSE:OXY opened at $43.94 on Monday. Occidental Petroleum has a 1 year low of $34.78 and a 1 year high of $52.58. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.94. The stock has a fifty day moving average price of $41.70 and a two-hundred day moving average price of $43.32. The stock has a market capitalization of $43.29 billion, a price-to-earnings ratio of 32.31 and a beta of 0.38.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.66 billion. During the same period in the prior year, the company posted $1.00 EPS. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Occidental Petroleum will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 70.59%.

Insider Activity at Occidental Petroleum

In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average price of $38.98 per share, with a total value of $194,900.00. Following the completion of the transaction, the director directly owned 218,913 shares in the company, valued at approximately $8,533,228.74. This trade represents a 2.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OXY. University of Texas Texas AM Investment Management Co. purchased a new stake in Occidental Petroleum during the second quarter worth approximately $27,000. City Holding Co. lifted its holdings in shares of Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 500 shares in the last quarter. Binnacle Investments Inc purchased a new stake in Occidental Petroleum during the 3rd quarter worth $35,000. Hantz Financial Services Inc. increased its holdings in Occidental Petroleum by 1,193.9% in the 2nd 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 in the last quarter. Finally, GoalVest Advisory LLC purchased a new position in Occidental Petroleum in the third quarter valued at about $38,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.