Occidental Petroleum (NYSE:OXY) Price Target Raised to $48.00 at Barclays

Occidental Petroleum (NYSE:OXY - Free Report) had its price target upped by Barclays from $46.00 to $48.00 in a report issued on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas producer's stock.

Other equities research analysts have also issued research reports about the company. TD Cowen lowered Occidental Petroleum from a "buy" rating to a "hold" rating and lowered their price objective for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Hsbc Global Res upgraded Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Raymond James downgraded Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their price target for the company from $81.00 to $64.00 in a report on Monday, March 10th. Citigroup lowered their price objective on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Finally, Wells Fargo & Company decreased their price target on shares of Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Occidental Petroleum has an average rating of "Hold" and a consensus price target of $54.05.

Occidental Petroleum Stock Up 3.9%

Occidental Petroleum stock traded up $1.66 during midday trading on Thursday, reaching $43.82. The company's stock had a trading volume of 17,857,620 shares, compared to its average volume of 11,107,733. The business has a 50-day simple moving average of $42.96 and a 200-day simple moving average of $47.19. The company has a market cap of $43.12 billion, a P/E ratio of 17.96 and a beta of 0.81. Occidental Petroleum has a fifty-two week low of $34.79 and a fifty-two week high of $64.76. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter last year, the company posted $0.63 earnings per share. The business's quarterly revenue was up 13.9% compared to the same quarter last year. On average, research analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.19%. Occidental Petroleum's dividend payout ratio is currently 39.02%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Certified Advisory Corp bought a new position in Occidental Petroleum in the 4th quarter worth $476,000. Benchmark Investment Advisors LLC bought a new position in shares of Occidental Petroleum during the 4th quarter worth about $642,000. Fisher Asset Management LLC increased its holdings in shares of Occidental Petroleum by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock worth $30,320,000 after purchasing an additional 6,461 shares during the period. Sarasin & Partners LLP increased its holdings in shares of Occidental Petroleum by 5.4% during the 4th quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer's stock worth $48,942,000 after purchasing an additional 50,983 shares during the period. Finally, Rule One Partners LLC increased its holdings in shares of Occidental Petroleum by 18.1% during the 4th quarter. Rule One Partners LLC now owns 325,501 shares of the oil and gas producer's stock worth $16,083,000 after purchasing an additional 50,000 shares during the period. Institutional investors own 88.70% of the company's stock.

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.