Occidental Petroleum Co. (NYSE:OXY) Receives Average Rating of "Hold" from Brokerages

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) has received a consensus recommendation of "Hold" from the twenty-one ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $53.48.

Several equities research analysts have recently weighed in on OXY shares. Truist Financial upped their target price on shares of Occidental Petroleum from $56.00 to $58.00 and gave the stock a "hold" rating in a report on Monday, January 13th. Piper Sandler dropped their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. TD Cowen downgraded Occidental Petroleum from a "buy" rating to a "hold" rating and reduced their target price for the stock from $68.00 to $45.00 in a report on Tuesday, April 8th. Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Finally, Barclays upped their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY traded up $0.54 during trading on Tuesday, hitting $44.40. 12,899,280 shares of the stock were exchanged, compared to its average volume of 11,133,741. The company has a market capitalization of $43.70 billion, a price-to-earnings ratio of 18.20 and a beta of 0.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum has a 1-year low of $34.79 and a 1-year high of $64.76. The company's fifty day simple moving average is $42.93 and its 200-day simple moving average is $47.14.

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

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 39.02%.

Institutional Investors Weigh In On Occidental Petroleum

Several large investors have recently modified their holdings of OXY. Certified Advisory Corp bought a new position in Occidental Petroleum in the fourth quarter valued at approximately $476,000. Benchmark Investment Advisors LLC bought a new position in Occidental Petroleum during the 4th quarter worth about $642,000. Fisher Asset Management LLC raised its stake in shares of Occidental Petroleum by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock valued at $30,320,000 after purchasing an additional 6,461 shares during the period. Sarasin & Partners LLP boosted its position in shares of Occidental Petroleum by 5.4% during the fourth quarter. Sarasin & Partners LLP now owns 990,521 shares of the oil and gas producer's stock worth $48,942,000 after buying an additional 50,983 shares during the period. Finally, Rule One Partners LLC grew its holdings in shares of Occidental Petroleum by 18.1% during the fourth quarter. Rule One Partners LLC now owns 325,501 shares of the oil and gas producer's stock worth $16,083,000 after buying an additional 50,000 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

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.