Investment Analysts’ Weekly Ratings Changes for Occidental Petroleum (OXY)

Several analysts have recently updated their ratings and price targets for Occidental Petroleum (NYSE: OXY):

• 4/22/2024 – Occidental Petroleum had its price target raised by analysts at Susquehanna from $70.00 to $81.00. They now have a “positive” rating on the stock.
• 4/11/2024 – Occidental Petroleum was upgraded by analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating. They now have a $90.00 price target on the stock, up previously from $63.00.
• 4/11/2024 – Occidental Petroleum had its price target raised by analysts at Mizuho from $69.00 to $70.00. They now have a “neutral” rating on the stock.
• 4/11/2024 – Occidental Petroleum had its price target raised by analysts at Wells Fargo & Company from $62.00 to $70.00. They now have an “equal weight” rating on the stock.
• 4/10/2024 – Occidental Petroleum is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $73.00 price target on the stock.
• 4/8/2024 – Occidental Petroleum is now covered by analysts at HSBC Holdings plc. They set a “hold” rating and a $65.00 price target on the stock.
• 4/5/2024 – Occidental Petroleum had its price target raised by analysts at Truist Financial Co. from $77.00 to $84.00. They now have a “buy” rating on the stock.
• 3/28/2024 – Occidental Petroleum had its price target raised by analysts at Morgan Stanley from $66.00 to $72.00. They now have an “overweight” rating on the stock.
• 3/22/2024 – Occidental Petroleum had its price target raised by analysts at Mizuho from $63.00 to $69.00. They now have a “neutral” rating on the stock.
• 3/15/2024 – Occidental Petroleum was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/1/2024 – Occidental Petroleum was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.

Occidental Petroleum Stock Up 0.6 %

Shares of NYSE:OXY opened at $67.01 on Tuesday. Occidental Petroleum Co. has a 52-week low of $55.12 and a 52-week high of $71.18. The firm has a market capitalization of $59.40 billion, a P/E ratio of 17.14 and a beta of 1.64. The stock has a 50 day moving average price of $63.57 and a 200-day moving average price of $61.21. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s revenue was down 9.6% compared to the same quarter last year. During the same period last year, the business posted $1.61 EPS. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 3.82 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were paid a $0.22 dividend. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio (DPR) is 22.51%.

Hedge Funds Weigh In On Occidental Petroleum

A number of institutional investors and hedge funds have recently modified their holdings of OXY. Ritholtz Wealth Management increased its position in Occidental Petroleum by 16.8% in the third quarter. Ritholtz Wealth Management now owns 11,256 shares of the oil and gas producer’s stock worth $730,000 after buying an additional 1,619 shares in the last quarter. PFG Advisors purchased a new stake in Occidental Petroleum in the 3rd quarter worth approximately $219,000. Traynor Capital Management Inc. increased its holdings in Occidental Petroleum by 19.6% in the 3rd quarter. Traynor Capital Management Inc. now owns 4,689 shares of the oil and gas producer’s stock worth $304,000 after acquiring an additional 768 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in Occidental Petroleum by 82.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 11,341 shares of the oil and gas producer’s stock worth $736,000 after acquiring an additional 5,130 shares in the last quarter. Finally, Avior Wealth Management LLC increased its holdings in Occidental Petroleum by 11.6% in the 3rd quarter. Avior Wealth Management LLC now owns 2,922 shares of the oil and gas producer’s stock worth $206,000 after acquiring an additional 303 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.