Occidental Petroleum Co. (NYSE:OXY) Receives Consensus Recommendation of "Hold" from Brokerages

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) has received a consensus rating of "Hold" from the twenty-one ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $53.14.

OXY has been the subject of several research analyst reports. Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. UBS Group dropped their price target on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Barclays upped their price target 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. Stephens dropped their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Finally, Piper Sandler dropped their price target 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.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $42.58 on Friday. The firm has a 50 day simple moving average of $40.76 and a 200-day simple moving average of $46.08. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The firm has a market cap of $41.90 billion, a PE ratio of 17.45 and a beta of 0.87. Occidental Petroleum has a 1-year low of $34.79 and a 1-year high of $64.76.

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, beating analysts' consensus estimates of $0.74 by $0.13. The business had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The company's revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 earnings per share. On average, equities analysts expect that Occidental Petroleum will post 3.58 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 2.25%. Occidental Petroleum's dividend payout ratio (DPR) is 39.02%.

Institutional Trading of Occidental Petroleum

A number of institutional investors and hedge funds have recently modified their holdings of the business. Stratos Wealth Advisors LLC boosted its stake in Occidental Petroleum by 60.3% during the 4th quarter. Stratos Wealth Advisors LLC now owns 11,771 shares of the oil and gas producer's stock valued at $582,000 after purchasing an additional 4,428 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Occidental Petroleum by 42.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,711 shares of the oil and gas producer's stock worth $2,754,000 after buying an additional 16,982 shares in the last quarter. Choreo LLC grew its holdings in Occidental Petroleum by 3.5% in the 4th quarter. Choreo LLC now owns 61,770 shares of the oil and gas producer's stock worth $3,014,000 after buying an additional 2,084 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in Occidental Petroleum in the fourth quarter worth approximately $210,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Occidental Petroleum in the fourth quarter worth approximately $3,447,000. 88.70% of the stock is owned by institutional investors and hedge funds.

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.

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