Occidental Petroleum (NYSE:OXY) Price Target Cut to $43.00 by Analysts at UBS Group

Occidental Petroleum (NYSE:OXY) had its price objective cut by UBS Group from $45.00 to $43.00 in a report issued on Friday,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Several other analysts also recently commented on OXY. Raymond James Financial reissued an “outperform” rating and issued a $50.00 target price on shares of Occidental Petroleum in a research report on Tuesday, November 25th. Hsbc Global Res upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Wells Fargo & Company reduced their price target on Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating for the company in a research report on Wednesday, November 12th. Roth Capital increased their price objective on Occidental Petroleum from $45.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, October 2nd. Finally, Evercore ISI reduced their target price on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $49.95.

Occidental Petroleum Price Performance

OXY opened at $41.07 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. Occidental Petroleum has a 1 year low of $34.78 and a 1 year high of $53.20. The stock has a fifty day moving average price of $41.87 and a 200 day moving average price of $43.73. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of 30.20 and a beta of 0.39.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16. The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.66 billion. Occidental Petroleum had a return on equity of 12.35% and a net margin of 7.81%.The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. Analysts forecast that Occidental Petroleum will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. Occidental Petroleum’s payout ratio is 70.59%.

Institutional Trading of Occidental Petroleum

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC increased its stake in shares of Occidental Petroleum by 77.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 139,086 shares of the oil and gas producer’s stock valued at $5,843,000 after buying an additional 60,793 shares during the period. Tevis Investment Management acquired a new stake in Occidental Petroleum in the second quarter worth about $356,000. Strs Ohio bought a new stake in Occidental Petroleum during the 1st quarter worth about $7,516,000. Nordea Investment Management AB lifted its position in Occidental Petroleum by 4.9% during the 2nd quarter. Nordea Investment Management AB now owns 459,826 shares of the oil and gas producer’s stock valued at $19,446,000 after purchasing an additional 21,393 shares during the period. Finally, Aberdeen Group plc grew its position in shares of Occidental Petroleum by 4.4% during the 2nd quarter. Aberdeen Group plc now owns 731,158 shares of the oil and gas producer’s stock worth $30,716,000 after buying an additional 30,746 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.