Occidental Petroleum Co. (NYSE:OXY) Receives $71.13 Consensus Price Target from Analysts

Occidental Petroleum Co. (NYSE:OXY) has earned a consensus recommendation of “Hold” from the nineteen ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $71.53.

A number of equities research analysts have recently commented on OXY shares. Wolfe Research cut Occidental Petroleum from an “outperform” rating to a “peer perform” rating in a research report on Friday, November 10th. Bank of America lifted their price target on shares of Occidental Petroleum from $78.00 to $82.00 in a research note on Wednesday, September 27th. UBS Group upped their price objective on shares of Occidental Petroleum from $72.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 4th. Roth Mkm reissued a “neutral” rating and set a $60.00 target price on shares of Occidental Petroleum in a research note on Tuesday, September 12th. Finally, Truist Financial restated a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum in a research report on Wednesday, August 16th.

Occidental Petroleum Stock Down 1.6 %

Shares of OXY opened at $60.31 on Friday. The company has a market capitalization of $53.10 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.68 and a beta of 1.70. Occidental Petroleum has a 52 week low of $55.51 and a 52 week high of $72.88. The stock’s 50-day moving average price is $63.37 and its 200-day moving average price is $61.49. The company has a quick ratio of 0.70, a current ratio of 0.92 and a debt-to-equity ratio of 0.88.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, November 7th. The oil and gas producer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.29. Occidental Petroleum had a net margin of 18.26% and a return on equity of 25.39%. The business had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same quarter last year, the company earned $2.44 EPS. The business’s revenue was down 22.1% on a year-over-year basis. On average, sell-side analysts predict that Occidental Petroleum will post 4.12 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 8th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, December 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 15.75%.

Insider Activity

In related news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $25.00, for a total value of $127,500,000.00. Following the transaction, the insider now directly owns 185,181,578 shares in the company, valued at $4,629,539,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $25.00, for a total value of $127,500,000.00. Following the sale, the insider now directly owns 185,181,578 shares in the company, valued at approximately $4,629,539,450. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Berkshire Hathaway Inc bought 1,040,067 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was bought at an average cost of $63.05 per share, for a total transaction of $65,576,224.35. Following the transaction, the insider now directly owns 228,051,027 shares of the company’s stock, valued at $14,378,617,252.35. The disclosure for this purchase can be found here. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OXY. Ironwood Wealth Management LLC. acquired a new position in Occidental Petroleum in the 1st quarter valued at about $334,000. Cibc World Market Inc. raised its position in Occidental Petroleum by 47.2% in the 1st quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer’s stock valued at $3,160,000 after purchasing an additional 17,859 shares in the last quarter. Prudential PLC purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at about $1,124,000. Sequoia Financial Advisors LLC acquired a new position in shares of Occidental Petroleum during the first quarter worth about $313,000. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Occidental Petroleum by 12.4% during the first quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer’s stock worth $3,094,000 after buying an additional 6,018 shares during the period. Hedge funds and other institutional investors own 77.54% of the company’s stock.

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, the Middle East, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.