Occidental Petroleum Corporation (OXY) Receives $65.50 Consensus PT from Analysts

Shares of Occidental Petroleum Corporation (NYSE:OXY) have received a consensus recommendation of “Hold” from the nineteen analysts that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $65.50.

OXY has been the subject of several recent research reports. Cowen and Company reissued a “buy” rating and issued a $75.00 price objective on shares of Occidental Petroleum Corporation in a research note on Tuesday, August 22nd. Jefferies Group LLC set a $64.00 price objective on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research note on Saturday, July 29th. Scotiabank reissued a “hold” rating and issued a $60.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, June 30th. BMO Capital Markets reissued a “hold” rating and issued a $65.00 price objective on shares of Occidental Petroleum Corporation in a research note on Thursday, June 22nd. Finally, Piper Jaffray Companies set a $55.00 price objective on shares of Occidental Petroleum Corporation and gave the company a “hold” rating in a research note on Friday, August 25th.

In related news, Director William R. Klesse acquired 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were bought at an average price of $61.58 per share, with a total value of $615,800.00. Following the completion of the acquisition, the director now owns 70,692 shares in the company, valued at $4,353,213.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Occidental Petroleum Corporation by 3,198.5% during the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after purchasing an additional 57,202,942 shares in the last quarter. Vanguard Group Inc. raised its holdings in Occidental Petroleum Corporation by 2.1% during the second quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock worth $3,304,357,000 after purchasing an additional 1,119,588 shares in the last quarter. State Street Corp raised its holdings in Occidental Petroleum Corporation by 1.7% during the first quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock worth $2,511,168,000 after purchasing an additional 681,032 shares in the last quarter. Wellington Management Group LLP raised its holdings in Occidental Petroleum Corporation by 0.8% during the first quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock worth $884,058,000 after purchasing an additional 105,546 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Occidental Petroleum Corporation by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock worth $830,010,000 after purchasing an additional 247,780 shares in the last quarter. 80.59% of the stock is currently owned by institutional investors.

Occidental Petroleum Corporation (NYSE OXY) traded up 0.78% during midday trading on Friday, hitting $64.50. 3,435,363 shares of the stock traded hands. The firm has a market cap of $49.31 billion, a P/E ratio of 454.23 and a beta of 0.67. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $75.60. The company’s 50-day moving average is $61.80 and its 200 day moving average is $61.29.

Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter last year, the firm posted ($0.18) earnings per share. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, analysts anticipate that Occidental Petroleum Corporation will post $0.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.78%. Occidental Petroleum Corporation’s payout ratio is currently 2,369.23%.

ILLEGAL ACTIVITY NOTICE: This piece of content was published by Markets Daily and is the sole property of of Markets Daily. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://www.themarketsdaily.com/2017/10/10/occidental-petroleum-corporation-oxy-receives-65-50-consensus-pt-from-analysts.html.

About Occidental Petroleum Corporation

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Analyst Recommendations for Occidental Petroleum Corporation (NYSE:OXY)

Receive News & Ratings for Occidental Petroleum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply