Piper Jaffray upgraded shares of Occidental Petroleum (NYSE:OXY) from a neutral rating to an overweight rating in a report released on Sunday morning. They currently have $86.00 price objective on the oil and gas producer’s stock.
Several other analysts have also recently commented on the stock. Citigroup upgraded shares of Occidental Petroleum from a sell rating to a neutral rating and set a $73.00 price objective for the company in a research note on Monday, January 22nd. Macquarie began coverage on shares of Occidental Petroleum in a research note on Wednesday, January 17th. They set a neutral rating for the company. ValuEngine lowered shares of Occidental Petroleum from a hold rating to a sell rating in a report on Thursday, March 1st. Deutsche Bank raised shares of Occidental Petroleum from a hold rating to a buy rating and set a $84.00 target price for the company in a report on Friday, March 23rd. Finally, Bank of America lowered shares of Occidental Petroleum from a buy rating to a neutral rating and set a $80.00 target price for the company. in a report on Thursday, January 4th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. Occidental Petroleum currently has an average rating of Hold and a consensus price target of $74.06.
Shares of NYSE OXY opened at $73.63 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Occidental Petroleum has a 12 month low of $57.20 and a 12 month high of $78.09. The company has a market cap of $54,922.37, a price-to-earnings ratio of 82.73, a price-to-earnings-growth ratio of 4.09 and a beta of 0.65.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the business posted ($0.13) EPS. equities research analysts forecast that Occidental Petroleum will post 2.7 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend is Thursday, March 8th. Occidental Petroleum’s payout ratio is presently 346.07%.
A number of hedge funds and other institutional investors have recently modified their holdings of OXY. Goodman Financial Corp purchased a new stake in Occidental Petroleum in the 4th quarter worth $116,000. Trustcore Financial Services LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth $153,000. Field & Main Bank purchased a new stake in Occidental Petroleum in the 4th quarter worth $166,000. Cetera Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth $201,000. Finally, Argent Trust Co purchased a new stake in Occidental Petroleum in the 4th quarter worth $201,000. 82.69% of the stock is owned by institutional investors.
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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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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