Brokerages Set Occidental Petroleum Co. (NYSE:OXY) PT at $71.94

Shares of Occidental Petroleum Co. (NYSE:OXY) have been given an average rating of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $71.94.

A number of research analysts have weighed in on the company. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Mizuho increased their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. HSBC started coverage on Occidental Petroleum in a report on Monday, April 8th. They issued a “hold” rating and a $65.00 target price on the stock. Barclays began coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on shares of Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th.

Occidental Petroleum Stock Down 0.4 %

OXY stock opened at $64.39 on Friday. Occidental Petroleum has a 1-year low of $55.12 and a 1-year high of $71.18. The business has a fifty day moving average price of $64.80 and a 200-day moving average price of $61.35. The stock has a market capitalization of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company earned $1.61 earnings per share. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. Equities analysts forecast that Occidental Petroleum will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.88 annualized dividend and a yield of 1.37%. Occidental Petroleum’s payout ratio is 22.51%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Investment Research & Advisory Group Inc. lifted its stake in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at approximately $26,000. Orion Capital Management LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $28,000. Finally, Grove Bank & Trust raised its holdings in shares of Occidental Petroleum by 86.0% in the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 240 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

About Occidental Petroleum

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, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.