Several other analysts have also weighed in on OXY. Goldman Sachs Group Inc upgraded shares of Occidental Petroleum from a sell rating to a neutral rating and set a $75.00 target price on the stock in a research report on Friday, December 16th. BMO Capital Markets lowered shares of Occidental Petroleum from an outperform rating to a market perform rating and set a $70.00 target price on the stock. in a research report on Wednesday, January 11th. They noted that the move was a valuation call. Wells Fargo & Co reiterated an outperform rating on shares of Occidental Petroleum in a research report on Saturday, January 14th. Barclays PLC decreased their target price on shares of Occidental Petroleum from $63.00 to $62.00 and set an underweight rating on the stock in a research report on Thursday, January 26th. Finally, Scotiabank reiterated a hold rating on shares of Occidental Petroleum in a research report on Friday, February 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Occidental Petroleum presently has a consensus rating of Hold and a consensus price target of $73.66.
Occidental Petroleum (NYSE:OXY) opened at 63.66 on Wednesday. Occidental Petroleum has a 1-year low of $61.01 and a 1-year high of $78.48. The company’s 50 day moving average is $65.97 and its 200-day moving average is $69.97. The firm’s market cap is $48.65 billion.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Thursday, February 9th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $0.10. Occidental Petroleum had a negative net margin of 5.52% and a negative return on equity of 3.40%. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter last year, the firm posted ($0.17) earnings per share. Occidental Petroleum’s revenue was down .6% on a year-over-year basis. On average, analysts predict that Occidental Petroleum will post $1.13 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 10th will be given a $0.76 dividend. The ex-dividend date is Wednesday, March 8th. This represents a $3.04 dividend on an annualized basis and a yield of 4.78%. Occidental Petroleum’s dividend payout ratio (DPR) is presently -400.00%.
In other Occidental Petroleum news, Director Stephen I. Chazen sold 4,000 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $63.27, for a total value of $253,080.00. Following the completion of the transaction, the director now directly owns 1,492,619 shares of the company’s stock, valued at $94,438,004.13. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William R. Klesse bought 10,000 shares of the company’s stock in a transaction on Friday, December 23rd. The stock was bought at an average cost of $72.15 per share, with a total value of $721,500.00. Following the completion of the purchase, the director now owns 57,940 shares of the company’s stock, valued at approximately $4,180,371. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 52,000 shares of company stock worth $3,529,480. Company insiders own 0.35% of the company’s stock.
Several institutional investors have recently made changes to their positions in OXY. State Street Corp increased its position in shares of Occidental Petroleum by 2.9% in the fourth quarter. State Street Corp now owns 38,952,153 shares of the company’s stock worth $2,775,998,000 after buying an additional 1,100,280 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Occidental Petroleum by 2.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 20,633,733 shares of the company’s stock worth $1,504,612,000 after buying an additional 475,496 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Occidental Petroleum by 2.8% in the third quarter. BlackRock Fund Advisors now owns 16,350,050 shares of the company’s stock worth $1,192,246,000 after buying an additional 446,361 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Occidental Petroleum by 13.5% in the fourth quarter. Franklin Resources Inc. now owns 13,345,159 shares of the company’s stock worth $950,580,000 after buying an additional 1,583,197 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Occidental Petroleum by 2.4% in the third quarter. Northern Trust Corp now owns 10,502,664 shares of the company’s stock worth $765,854,000 after buying an additional 242,646 shares in the last quarter. 80.07% of the stock is owned by institutional investors.
About Occidental Petroleum
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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