Brokerages Set Occidental Petroleum Corporation (NYSE:OXY) PT at $54.65

Shares of Occidental Petroleum Corporation (NYSE:OXY) have earned an average recommendation of “Hold” from the twenty-three analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $54.6957.

Several equities research analysts recently commented on the stock. Melius assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price target for the company. Piper Sandler upped their price target on shares of Occidental Petroleum from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Mizuho reduced their price target on shares of Occidental Petroleum from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, September 15th. JPMorgan Chase & Co. upped their price target 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. Finally, Wells Fargo & Company reduced their price target 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.

Occidental Petroleum Stock Down 2.5%

OXY stock opened at $46.16 on Monday. Occidental Petroleum has a 12 month low of $34.78 and a 12 month high of $56.49. The firm has a market cap of $45.44 billion, a PE ratio of 27.31 and a beta of 1.04. The firm has a 50 day simple moving average of $45.07 and a 200 day simple moving average of $43.79. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $6.29 billion. During the same period in the prior year, the business earned $1.03 earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis. Equities research analysts forecast that Occidental Petroleum will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Occidental Petroleum in the 1st quarter valued at approximately $1,274,000. Kestra Private Wealth Services LLC increased its stake in Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock valued at $843,000 after buying an additional 906 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock valued at $78,813,000 after buying an additional 140,528 shares during the period. swisspartners Advisors Ltd acquired a new position in Occidental Petroleum in the 1st quarter valued at approximately $6,006,000. Finally, Blackhawk Capital Partners LLC. acquired a new position in Occidental Petroleum in the 1st quarter valued at approximately $344,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

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.