JPMorgan Chase & Co. Increases Occidental Petroleum (OXY) Price Target to $75.00

Occidental Petroleum (NYSE:OXY) had its price objective lifted by JPMorgan Chase & Co. from $74.00 to $75.00 in a research note issued to investors on Thursday. They currently have a neutral rating on the oil and gas producer’s stock.

Other equities analysts have also issued research reports about the company. Goldman Sachs Group raised Occidental Petroleum from a neutral rating to a buy rating in a research report on Friday, November 17th. Cowen set a $85.00 target price on Occidental Petroleum and gave the stock a buy rating in a research report on Thursday, January 18th. Morgan Stanley boosted their price target on Occidental Petroleum from $62.00 to $66.00 and gave the company an equal weight rating in a research note on Wednesday, October 18th. Mizuho set a $79.00 price target on Occidental Petroleum and gave the company a hold rating in a research note on Tuesday, January 16th. Finally, ValuEngine upgraded Occidental Petroleum from a sell rating to a hold rating in a research note on Friday, December 1st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and a consensus target price of $70.60.

Occidental Petroleum (OXY) opened at $68.16 on Thursday. Occidental Petroleum has a 52-week low of $57.20 and a 52-week high of $78.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 0.95. The firm has a market capitalization of $52,159.10, a PE ratio of 76.58, a price-to-earnings-growth ratio of 4.23 and a beta of 0.53.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.41. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. The business had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the previous year, the firm earned ($0.13) EPS. equities analysts forecast that Occidental Petroleum will post 2.61 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.52%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 180.12%.

Several large investors have recently made changes to their positions in the stock. Sawtooth Solutions LLC grew its stake in shares of Occidental Petroleum by 193.6% during the 4th quarter. Sawtooth Solutions LLC now owns 36,206 shares of the oil and gas producer’s stock valued at $2,667,000 after acquiring an additional 23,873 shares during the period. Compagnie Lombard Odier SCmA grew its stake in shares of Occidental Petroleum by 5.8% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 132,737 shares of the oil and gas producer’s stock valued at $9,777,000 after acquiring an additional 7,333 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in shares of Occidental Petroleum by 42.8% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 46,045 shares of the oil and gas producer’s stock valued at $3,392,000 after acquiring an additional 13,800 shares during the period. First Commonwealth Financial Corp PA bought a new position in shares of Occidental Petroleum during the 4th quarter valued at approximately $326,000. Finally, BRYN MAWR TRUST Co grew its stake in shares of Occidental Petroleum by 6.1% during the 4th quarter. BRYN MAWR TRUST Co now owns 173,265 shares of the oil and gas producer’s stock valued at $12,762,000 after acquiring an additional 9,986 shares during the period. Institutional investors own 79.98% of the company’s stock.

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Occidental Petroleum Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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