Occidental Petroleum Co. (NYSE:OXY) Given Average Recommendation of "Hold" by Brokerages

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) has received an average rating of "Hold" from the twenty-one brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $53.14.

A number of equities research analysts have issued reports on OXY shares. TD Cowen lowered Occidental Petroleum from a "buy" rating to a "hold" rating and reduced their price target for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. Mizuho reduced their target price on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Hsbc Global Res upgraded shares of Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Susquehanna reduced their price objective on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, Piper Sandler decreased their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds have recently modified their holdings of OXY. Altshuler Shaham Ltd purchased a new position in Occidental Petroleum during the 4th quarter worth $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $27,000. Whipplewood Advisors LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter worth about $27,000. Bernard Wealth Management Corp. acquired a new position in Occidental Petroleum in the 4th quarter valued at about $32,000. Finally, Grove Bank & Trust raised its stake in Occidental Petroleum by 129.2% during the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after acquiring an additional 407 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Stock Up 1.5%

OXY traded up $0.65 during trading hours on Friday, hitting $43.89. 9,144,063 shares of the company's stock were exchanged, compared to its average volume of 11,324,943. The firm has a market cap of $43.20 billion, a P/E ratio of 17.99 and a beta of 0.87. Occidental Petroleum has a 12-month low of $34.79 and a 12-month high of $64.76. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $40.64 and a 200 day moving average of $45.93.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company's revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. Analysts predict 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. Shareholders of record on Tuesday, June 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 39.02%.

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, 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.