Shares of Occidental Petroleum Co. (NYSE:OXY) have been assigned a consensus rating of "Hold" from the twenty-four ratings firms that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $15.33.
OXY has been the topic of a number of recent analyst reports. Mizuho lifted their price objective on Occidental Petroleum from $13.00 to $18.00 in a research report on Friday, June 19th. upgraded Occidental Petroleum from a "neutral" rating to a "buy" rating in a research report on Tuesday, June 9th. Scotiabank lifted their price objective on Occidental Petroleum from $16.00 to $20.00 and gave the stock a "sector perform" rating in a research report on Monday, July 13th. Tudor Pickering upgraded Occidental Petroleum from a "sell" rating to a "hold" rating in a research note on Tuesday, August 18th. Finally, Raymond James restated a "buy" rating on shares of Occidental Petroleum in a research note on Tuesday, June 9th.
In other news, Director William R. Klesse acquired 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average price of $13.43 per share, with a total value of $134,300.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Occidental Petroleum by 39.4% in the second quarter. Vanguard Group Inc. now owns 103,610,730 shares of the oil and gas producer's stock valued at $1,896,076,000 after acquiring an additional 29,287,765 shares in the last quarter. State Street Corp lifted its position in shares of Occidental Petroleum by 11.0% in the first quarter. State Street Corp now owns 50,368,326 shares of the oil and gas producer's stock valued at $619,690,000 after acquiring an additional 5,003,171 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Occidental Petroleum by 129.8% in the first quarter. JPMorgan Chase & Co. now owns 3,596,706 shares of the oil and gas producer's stock valued at $41,650,000 after acquiring an additional 2,031,460 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Occidental Petroleum by 111.8% in the first quarter. First Trust Advisors LP now owns 2,460,527 shares of the oil and gas producer's stock valued at $28,493,000 after acquiring an additional 1,298,878 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Occidental Petroleum by 68.7% in the first quarter. Parametric Portfolio Associates LLC now owns 2,823,690 shares of the oil and gas producer's stock valued at $32,698,000 after acquiring an additional 1,149,860 shares in the last quarter. 68.33% of the stock is owned by institutional investors.
OXY opened at $10.71 on Wednesday. The stock's 50 day simple moving average is $13.77 and its 200 day simple moving average is $15.98. The company has a debt-to-equity ratio of 2.65, a current ratio of 0.85 and a quick ratio of 0.70. Occidental Petroleum has a 1 year low of $9.00 and a 1 year high of $48.85. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of -0.75 and a beta of 1.82.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Monday, August 10th. The oil and gas producer reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.08). The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.85 billion. Occidental Petroleum had a negative return on equity of 8.97% and a negative net margin of 54.47%. Occidental Petroleum's revenue was down 33.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 earnings per share. As a group, sell-side analysts anticipate that Occidental Petroleum will post -3.33 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, September 14th. Occidental Petroleum's payout ratio is 2.76%.
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 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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