Occidental Petroleum Corporation (NYSE:OXY) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Occidental Petroleum Corporation has received an average consensus rating of "Hold" from 21 analysts, with 2 sell ratings, 14 hold ratings, and 5 buy ratings.
• The average twelve-month price target for Occidental Petroleum is $53.71, with recent target adjustments including a downgrade to $45.00 by TD Cowen.
• The company announced a quarterly dividend of $0.24 per share, resulting in an annualized dividend yield of 2.15%.

Shares of Occidental Petroleum Corporation (NYSE:OXY - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-one ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two 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. The average twelve-month price target among analysts that have covered the stock in the last year is $53.71.

A number of research firms have weighed in on OXY. TD Cowen downgraded shares of Occidental Petroleum from a "buy" rating to a "hold" rating and decreased their target price for the company from $68.00 to $45.00 in a research report on Tuesday, April 8th. Wells Fargo & Company decreased their target price on shares of Occidental Petroleum from $47.00 to $46.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. JPMorgan Chase & Co. increased their target price on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Scotiabank increased their target price on shares of Occidental Petroleum from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Finally, Hsbc Global Res raised shares of Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th.

Hedge Funds Weigh In On Occidental Petroleum

A number of large investors have recently modified their holdings of OXY. Northeast Financial Consultants Inc grew its holdings in Occidental Petroleum by 0.4% during the first quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer's stock worth $2,890,000 after buying an additional 242 shares in the last quarter. Inspire Investing LLC grew its holdings in Occidental Petroleum by 3.8% during the second quarter. Inspire Investing LLC now owns 6,720 shares of the oil and gas producer's stock worth $282,000 after buying an additional 247 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Occidental Petroleum by 20.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock worth $81,000 after buying an additional 274 shares in the last quarter. S.A. Mason LLC grew its holdings in Occidental Petroleum by 5.9% during the second quarter. S.A. Mason LLC now owns 5,306 shares of the oil and gas producer's stock worth $223,000 after buying an additional 295 shares in the last quarter. Finally, Moody National Bank Trust Division grew its holdings in Occidental Petroleum by 2.0% during the second quarter. Moody National Bank Trust Division now owns 15,326 shares of the oil and gas producer's stock worth $644,000 after buying an additional 300 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $44.71 on Friday. The business's 50-day moving average price is $43.43 and its 200-day moving average price is $44.87. Occidental Petroleum has a 12 month low of $34.78 and a 12 month high of $61.35. The firm has a market capitalization of $44.00 billion, a price-to-earnings ratio of 18.18 and a beta of 0.84. The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90.

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 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The company 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 16.60% and a net margin of 11.20%. The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Equities research analysts forecast that Occidental Petroleum will post 3.58 EPS for the current year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 39.02%.

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.

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