Occidental Petroleum (NYSE:OXY – Free Report) had its price objective boosted by The Goldman Sachs Group from $69.00 to $76.00 in a report issued on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the oil and gas producer’s stock.
OXY has been the topic of a number of other research reports. UBS Group lifted their target price on shares of Occidental Petroleum from $67.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 14th. Citigroup decreased their price objective on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, July 17th. Stifel Nicolaus started coverage on Occidental Petroleum in a research note on Thursday, September 10th. They issued a “hold” rating and a $68.00 target price for the company. Roth Capital upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Friday, October 16th. Finally, Weiss Ratings raised Occidental Petroleum from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Twelve research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $67.88.
Check Out Our Latest Research Report on OXY
Occidental Petroleum Stock Performance
Shares of NYSE OXY opened at $62.98 on Tuesday. The stock’s 50-day moving average is $60.13 and its 200 day moving average is $55.81. The stock has a market cap of $62.96 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 0.73 and a beta of 0.24. Occidental Petroleum has a 1-year low of $38.80 and a 1-year high of $67.45. The company has a current ratio of 1.41, a quick ratio of 1.13 and a debt-to-equity ratio of 0.40.
Occidental Petroleum (NYSE:OXY – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. The business had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business’s quarterly revenue was up 53.4% on a year-over-year basis. During the same period last year, the business earned $0.39 earnings per share. On average, sell-side analysts anticipate that Occidental Petroleum will post 6.81 EPS for the current fiscal year.
Occidental Petroleum Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 10th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, December 10th. Occidental Petroleum’s payout ratio is presently 17.34%.
Institutional Investors Weigh In On Occidental Petroleum
A number of large investors have recently modified their holdings of the stock. Axiom Investment Management LLC purchased a new position in shares of Occidental Petroleum during the 1st quarter valued at approximately $25,000. Hara Capital LLC purchased a new stake in Occidental Petroleum in the 2nd quarter worth $25,000. GKV Capital Management Co. Inc. acquired a new position in Occidental Petroleum during the first quarter worth $26,000. William Mack & Associates Inc. acquired a new position in Occidental Petroleum during the third quarter worth $27,000. Finally, Fiduciary Financial Advisors purchased a new position in Occidental Petroleum during the second quarter valued at $31,000. Institutional investors own 88.70% of the company’s stock.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.
The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.
Read More
- Five stocks we like better than Occidental Petroleum
- Phillips 66 Posts Strong Earnings But the Stock Doesn’t Care
- NXP Semiconductors Falls After Strong Earnings—Is the Sell-Off Overdone?
- GE Vernova’s Reservations Are Turning Into Real Orders—But the Market Still Wants More.
- Where’s the Beef? Trian-Led Buyout Proposal Values Wendy’s at $1.4B, But Is It Enough?
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.
