Occidental Petroleum Co. (NYSE:OXY) has received a consensus rating of “Buy” from the twenty-five research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $84.71.
A number of analysts recently issued reports on OXY shares. Morgan Stanley set a $72.00 price objective on Occidental Petroleum and gave the company a “buy” rating in a research report on Thursday, February 14th. Mizuho reissued a “buy” rating and set a $82.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 13th. Capital One Financial cut Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. Zacks Investment Research raised Occidental Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Finally, ValuEngine raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th.
OXY traded down $1.97 during trading on Wednesday, reaching $63.36. 11,412,997 shares of the stock traded hands, compared to its average volume of 4,460,123. The stock has a market cap of $48.86 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.30 and a beta of 0.83. Occidental Petroleum has a fifty-two week low of $56.83 and a fifty-two week high of $87.67. The company has a current ratio of 1.34, a quick ratio of 1.17 and a debt-to-equity ratio of 0.48.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. The business’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. As a group, sell-side analysts forecast that Occidental Petroleum will post 3.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, March 11th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, March 8th. This represents a $3.12 annualized dividend and a yield of 4.92%. Occidental Petroleum’s dividend payout ratio is 62.28%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Trust N.A. boosted its holdings in Occidental Petroleum by 1.5% during the first quarter. Raymond James Trust N.A. now owns 143,495 shares of the oil and gas producer’s stock valued at $9,499,000 after purchasing an additional 2,110 shares in the last quarter. Salem Capital Management Inc. boosted its holdings in shares of Occidental Petroleum by 4.4% in the 1st quarter. Salem Capital Management Inc. now owns 67,875 shares of the oil and gas producer’s stock worth $4,493,000 after acquiring an additional 2,875 shares in the last quarter. Sciencast Management LP acquired a new position in shares of Occidental Petroleum in the 1st quarter worth approximately $1,223,000. Retirement Systems of Alabama boosted its holdings in shares of Occidental Petroleum by 1.1% in the 1st quarter. Retirement Systems of Alabama now owns 435,632 shares of the oil and gas producer’s stock worth $28,839,000 after acquiring an additional 4,700 shares in the last quarter. Finally, Viking Fund Management LLC boosted its holdings in shares of Occidental Petroleum by 15.3% in the 1st quarter. Viking Fund Management LLC now owns 37,700 shares of the oil and gas producer’s stock worth $2,496,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.
Occidental Petroleum Company Profile
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.
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