Occidental Petroleum (NYSE:OXY) Price Target Raised to $67.00

Occidental Petroleum (NYSE:OXY) had its target price lifted by UBS Group from $64.00 to $67.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Several other equities research analysts have also commented on OXY. Stephens upped their price objective on Occidental Petroleum from $59.00 to $74.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Jefferies Financial Group upped their price objective on Occidental Petroleum from $47.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday. BMO Capital Markets upped their price objective on Occidental Petroleum from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 7th. Morgan Stanley upped their price objective on Occidental Petroleum from $53.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Friday, March 27th. Finally, Citigroup upped their price objective on Occidental Petroleum from $45.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.26.

Occidental Petroleum Price Performance

Shares of NYSE OXY opened at $55.86 on Monday. The business’s 50 day moving average price is $55.44 and its 200 day moving average price is $46.89. The firm has a market cap of $55.39 billion, a P/E ratio of 34.69 and a beta of 0.23. Occidental Petroleum has a 52 week low of $37.97 and a 52 week high of $67.45. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. Occidental Petroleum’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, sell-side analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 10th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, March 10th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.24. Occidental Petroleum’s dividend payout ratio is currently 64.60%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Occidental Petroleum by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock worth $3,696,716,000 after buying an additional 699,137 shares during the period. State Street Corp raised its stake in shares of Occidental Petroleum by 2.1% during the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock worth $1,635,263,000 after buying an additional 828,848 shares during the period. Geode Capital Management LLC raised its stake in shares of Occidental Petroleum by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock worth $771,949,000 after buying an additional 167,518 shares during the period. Dimensional Fund Advisors LP raised its stake in Occidental Petroleum by 21.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock valued at $436,008,000 after purchasing an additional 1,883,721 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Occidental Petroleum by 18.9% in the 4th quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock valued at $276,772,000 after purchasing an additional 1,071,948 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Occidental Petroleum

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Major broker price-target increases from UBS, Jefferies and JPMorgan add upside credibility and likely supported buying interest today. UBS raised its PT to $67. UBS Raises PT to $67
• Positive Sentiment: Jefferies raised its price target to $58, another institutional vote that reinforces higher valuation talk. Jefferies Raises PT to $58
• Positive Sentiment: JPMorgan bumped its target to $64, providing further analyst support for the stock’s upside. JPMorgan Raises PT to $64
• Positive Sentiment: OXY appears on several “value stock” screens (EV/EBITDA focus), which may attract value-oriented and fundamental buyers. Zacks Value Stock List
• Neutral Sentiment: Capital One trimmed its PT slightly (from $69 to $67) but kept an “equal weight” rating — a modest signal that the firm still sees upside but is cautious. Capital One Lowers PT to $67
• Neutral Sentiment: CEO Vicki Hollub discussed Middle East operations and safety — useful for operational transparency but not an immediate catalyst for the share price. CEO Interview on Middle East Ops
• Negative Sentiment: Shares dropped recently after oil prices softened on renewed U.S.–Iran ceasefire hopes; that relief rally reduced demand for energy hedges and pressured OXY. Why OXY Fell (Ceasefire Hopes)
• Negative Sentiment: Roth MKM raised its PT to $55 but kept a “neutral” rating — the new target sits below the recent market level, which can be read as a downside signal for some investors. Roth MKM Raises PT to $55 (Neutral)

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.