Occidental Petroleum Corporation (NYSE:OXY – Get Free Report) was the recipient of some unusual options trading on Friday. Stock traders purchased 96,009 call options on the company. This represents an increase of 121% compared to the average daily volume of 43,480 call options.
Analyst Ratings Changes
Several research analysts recently commented on OXY shares. The Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $63.00 to $69.00 in a research note on Thursday, October 1st. Citigroup reduced their price target on Occidental Petroleum from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, July 17th. Wall Street Zen raised Occidental Petroleum from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Stifel Nicolaus started coverage on Occidental Petroleum in a research note on Thursday, September 10th. They issued a “hold” rating and a $68.00 price objective for the company. Finally, Evercore raised Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Wednesday, July 8th. Thirteen analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $66.71.
Read Our Latest Stock Report on Occidental Petroleum
Institutional Trading of Occidental Petroleum
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Axiom Investment Management LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at $25,000. GKV Capital Management Co. Inc. acquired a new stake in Occidental Petroleum during the 1st quarter worth $26,000. Portus Wealth Advisors LLC acquired a new stake in Occidental Petroleum during the 1st quarter worth $29,000. Hara Capital LLC purchased a new stake in Occidental Petroleum in the second quarter valued at $25,000. Finally, Ballast Advisors LLC purchased a new stake in Occidental Petroleum in the first quarter valued at $39,000. Institutional investors and hedge funds own 88.70% of the company’s stock.
Occidental Petroleum Stock Up 2.8%
Shares of NYSE OXY opened at $62.36 on Friday. The business has a 50-day moving average of $59.40 and a two-hundred day moving average of $57.28. The company has a market capitalization of $62.34 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.93 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 debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13.
Occidental Petroleum (NYSE:OXY – Get Free Report) last released its quarterly earnings data 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. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The business had revenue of $8.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter in the prior year, the business posted $0.39 EPS. The business’s revenue for the quarter was up 53.4% on a year-over-year basis. On average, analysts forecast that Occidental Petroleum will post 6.56 earnings per share for the current fiscal year.
Occidental Petroleum Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, September 10th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.8%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Thursday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 17.34%.
Key Headlines Impacting Occidental Petroleum
Here are the key news stories impacting Occidental Petroleum this week:
- Positive Sentiment: Roth Capital upgraded OXY from “neutral” to “buy” and assigned a $70 price target. The target implies meaningful upside from the stock’s recent trading level and is the strongest direct bullish catalyst in the latest coverage.
- Positive Sentiment: Morgan Stanley raised its price target from $69 to $71 while maintaining an “equal weight” rating, indicating greater valuation support despite a cautious overall stance.
- Positive Sentiment: Analysts at Zacks highlighted Occidental’s history of earnings surprises and the combination of estimate revisions and earnings trends that could support another quarterly beat. Will Occidental Beat Estimates Again in Its Next Earnings Report?
- Positive Sentiment: Recent commentary pointing to Occidental’s valuation and potential undervaluation may be attracting value-focused investors. The company’s latest reported quarter also showed substantial year-over-year revenue and earnings growth.
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.
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