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%.
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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.
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