Occidental Petroleum (NYSE:OXY) Price Target Lowered to $58.00 at Mizuho

Key Points

• Analysts at Mizuho have lowered their price target for Occidental Petroleum from $65.00 to $58.00 while maintaining a "neutral" rating, indicating a potential upside of 21.87% from the current stock price.
• Recent earnings data showed Occidental Petroleum reported $0.39 earnings per share, slightly exceeding analysts' consensus estimates, but its quarterly revenue declined by 6.1% year-over-year.
• The stock is currently rated as a "Hold" by a consensus of analysts, with four ratings as "Buy", seventeen as "Hold", and two as "Sell".

Occidental Petroleum (NYSE:OXY - Free Report) had its target price trimmed by Mizuho from $65.00 to $58.00 in a research report sent to investors on Monday morning,MarketScreener reports. The firm currently has a neutral rating on the oil and gas producer's stock.

OXY has been the topic of a number of other reports. UBS Group boosted their target price on shares of Occidental Petroleum from $45.00 to $46.00 and gave the stock a "neutral" rating in a report on Monday, September 15th. Citigroup increased their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Wells Fargo & Company reduced their price objective 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. raised their price objective on Occidental Petroleum from $47.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen cut Occidental Petroleum from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and a consensus price target of $54.70.

Occidental Petroleum Stock Performance

Occidental Petroleum stock traded down $1.20 on Monday, hitting $46.16. The company's stock had a trading volume of 14,262,200 shares, compared to its average volume of 7,710,747. The firm has a market cap of $45.44 billion, a P/E ratio of 27.31 and a beta of 1.04. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average price of $45.07 and a 200-day moving average price of $43.81. Occidental Petroleum has a one year low of $34.78 and a one year high of $56.49.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.29 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The firm's quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Occidental Petroleum will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, September 10th will be given a $0.24 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.1%. Occidental Petroleum's dividend payout ratio is 56.80%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. acquired a new position in Occidental Petroleum in the 2nd quarter valued at $27,000. Bernard Wealth Management Corp. acquired a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $32,000. Grove Bank & Trust boosted its holdings in Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after buying an additional 407 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Occidental Petroleum by 1,193.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer's stock valued at $36,000 after buying an additional 788 shares during the period. Finally, American National Bank & Trust acquired a new stake in shares of Occidental Petroleum during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 88.70% of the company's stock.

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.