Occidental Petroleum Co. (NYSE:OXY)‘s stock had its “sell” rating reissued by investment analysts at Barclays PLC in a research report issued to clients and investors on Thursday. They currently have a $50.00 target price on the oil and gas producer’s stock. Barclays PLC’s price target would suggest a potential downside of 19.26% from the company’s previous close.
Several other analysts also recently commented on the stock. BMO Capital Markets downgraded shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating and set a $70.00 price target for the company. in a research report on Wednesday, January 11th. They noted that the move was a valuation call. Bank of America Corp upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 15th. Credit Suisse Group AG upgraded shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and upped their price target for the company from $70.00 to $79.00 in a research report on Tuesday, March 14th. They noted that the move was a valuation call. Mizuho upgraded shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating in a research report on Monday, February 13th. They noted that the move was a valuation call. Finally, Scotiabank reiterated a “hold” rating on shares of Occidental Petroleum in a research report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $72.38.
Occidental Petroleum (NYSE:OXY) traded down 0.05% during midday trading on Thursday, reaching $61.93. 4,094,049 shares of the company were exchanged. Occidental Petroleum has a 52 week low of $61.01 and a 52 week high of $78.48. The firm has a 50-day moving average price of $63.61 and a 200-day moving average price of $68.30. The company’s market capitalization is $47.33 billion.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Thursday, February 9th. The oil and gas producer reported ($0.13) EPS 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 earned $2.83 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter last year, the company earned ($0.17) EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts anticipate that Occidental Petroleum will post $1.10 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 10th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.91%. Occidental Petroleum’s dividend payout ratio (DPR) is presently -400.00%.
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In related news, insider Vicki A. Hollub purchased 15,000 shares of the stock in a transaction dated Monday, March 13th. The shares were acquired at an average cost of $62.72 per share, with a total value of $940,800.00. Following the purchase, the insider now directly owns 76,018 shares in the company, valued at approximately $4,767,848.96. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephen I. Chazen sold 4,000 shares of the company’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $62.88, for a total transaction of $251,520.00. Following the transaction, the director now directly owns 1,472,619 shares in the company, valued at $92,598,282.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,000 shares of company stock worth $3,384,080. Corporate insiders own 0.35% of the company’s stock.
Several institutional investors have recently bought and sold shares of OXY. State of Alaska Department of Revenue bought a new position in Occidental Petroleum during the first quarter worth $584,000. Rothschild Investment Corp IL bought a new position in Occidental Petroleum during the first quarter worth $770,000. City Holding Co. boosted its position in Occidental Petroleum by 17.7% in the first quarter. City Holding Co. now owns 23,435 shares of the oil and gas producer’s stock worth $1,485,000 after buying an additional 3,525 shares during the period. Selz Capital LLC bought a new position in Occidental Petroleum during the first quarter worth $4,435,000. Finally, Oakbrook Investments LLC bought a new position in Occidental Petroleum during the first quarter worth $4,628,000. 80.07% of the stock is currently owned by institutional investors and hedge funds.
Occidental Petroleum Company Profile
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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