Occidental Petroleum (NYSE:OXY) had its price target decreased by Morgan Stanley from $55.00 to $52.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the oil and gas producer’s stock.
A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered Genprex from a hold rating to a sell rating in a research report on Thursday, April 18th. Oppenheimer set a $68.00 price objective on ITT and gave the company a buy rating in a research report on Wednesday, March 27th. TheStreet lowered WESCO International from a b- rating to a c+ rating in a research report on Friday, May 24th. Wells Fargo & Co lowered Occidental Petroleum from an outperform rating to a market perform rating in a research report on Monday, May 20th. Finally, Argus raised their price objective on Leidos to $82.00 and gave the company a positive rating in a research report on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $74.30.
OXY opened at $51.63 on Friday. The stock has a market cap of $38.80 billion, a PE ratio of 10.31, a PEG ratio of 2.77 and a beta of 0.83. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $49.95. Occidental Petroleum has a 52 week low of $47.00 and a 52 week high of $84.93.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.12. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the business posted $0.92 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts predict that Occidental Petroleum will post 3.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a $0.79 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, September 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 6.12%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 62.28%.
In other news, CFO Cedric W. Burgher purchased 4,100 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average cost of $49.61 per share, for a total transaction of $203,401.00. Following the purchase, the chief financial officer now directly owns 76,842 shares in the company, valued at approximately $3,812,131.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Avedick Baruyr Poladian purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was purchased at an average price of $48.77 per share, for a total transaction of $243,850.00. Following the completion of the purchase, the director now owns 60,319 shares in the company, valued at $2,941,757.63. The disclosure for this purchase can be found here. In the last three months, insiders acquired 80,660 shares of company stock valued at $3,893,851. Corporate insiders own 0.15% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. UBS Oconnor LLC purchased a new position in shares of Occidental Petroleum in the 4th quarter worth $4,604,000. OppenheimerFunds Inc. lifted its position in Occidental Petroleum by 35.6% during the first quarter. OppenheimerFunds Inc. now owns 1,020,876 shares of the oil and gas producer’s stock valued at $67,582,000 after purchasing an additional 268,067 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Occidental Petroleum by 13.9% during the first quarter. Envestnet Asset Management Inc. now owns 1,027,862 shares of the oil and gas producer’s stock valued at $68,044,000 after purchasing an additional 125,245 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in Occidental Petroleum by 27.6% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 7,400 shares of the oil and gas producer’s stock valued at $490,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Providence Wealth Advisors LLC lifted its position in Occidental Petroleum by 18.3% during the first quarter. Providence Wealth Advisors LLC now owns 11,584 shares of the oil and gas producer’s stock valued at $774,000 after purchasing an additional 1,791 shares in the last quarter. Hedge funds and other institutional investors own 81.70% 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 and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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