Occidental Petroleum Co. (NYSE:OXY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Occidental Petroleum Co. (NYSE:OXY) has earned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $71.88.

OXY has been the topic of several recent analyst reports. Mizuho increased their price objective on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday. Morgan Stanley lifted their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. HSBC started coverage on Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. Raymond James dropped their price target on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, Truist Financial raised their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, April 5th.

Occidental Petroleum Price Performance

NYSE:OXY opened at $64.24 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. Occidental Petroleum has a 52 week low of $55.12 and a 52 week high of $71.18. The stock’s 50-day moving average price is $65.05 and its 200-day moving average price is $61.36. The stock has a market capitalization of $56.95 billion, a PE ratio of 16.43 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The business’s revenue was down 17.2% compared to the same quarter last year. As a group, equities analysts expect that Occidental Petroleum will post 3.81 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s payout ratio is 22.51%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Investment Research & Advisory Group Inc. boosted its position in shares of Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Occidental Petroleum during the third quarter worth $26,000. Orion Capital Management LLC purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the 4th quarter worth about $28,000. Finally, Grove Bank & Trust boosted its holdings in Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 240 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.