Occidental Petroleum (NYSE:OXY) PT Lowered to $72.00 at Mizuho

Occidental Petroleum (NYSE:OXY) had its price target cut by Mizuho from $76.00 to $72.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Other equities analysts also recently issued research reports about the stock. Susquehanna dropped their price objective on shares of Occidental Petroleum from $81.00 to $78.00 and set a positive rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company dropped their price target on Occidental Petroleum from $68.00 to $65.00 and set an equal weight rating for the company in a research note on Friday, August 9th. Scotiabank lowered their target price on Occidental Petroleum from $90.00 to $80.00 and set a sector outperform rating for the company in a report on Friday, July 12th. Citigroup cut their price target on Occidental Petroleum from $69.00 to $65.00 and set a neutral rating on the stock in a research note on Friday, May 24th. Finally, Wolfe Research initiated coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They issued an outperform rating and a $81.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $71.60.

Occidental Petroleum Stock Performance

Shares of NYSE:OXY opened at $52.03 on Monday. The company’s 50 day simple moving average is $57.10 and its 200 day simple moving average is $61.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. Occidental Petroleum has a 1 year low of $49.90 and a 1 year high of $71.18. The stock has a market capitalization of $47.12 billion, a price-to-earnings ratio of 14.22 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the firm earned $0.68 EPS. Occidental Petroleum’s revenue was up 2.2% on a year-over-year basis. As a group, research analysts predict that Occidental Petroleum will post 3.71 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Transactions at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Occidental Petroleum

A number of large investors have recently bought and sold shares of OXY. Financial Advocates Investment Management grew its holdings in Occidental Petroleum by 15.1% in the fourth quarter. Financial Advocates Investment Management now owns 7,975 shares of the oil and gas producer’s stock worth $476,000 after purchasing an additional 1,047 shares during the period. ING Groep NV grew its holdings in shares of Occidental Petroleum by 6,191.4% during the fourth quarter. ING Groep NV now owns 90,533 shares of the oil and gas producer’s stock valued at $5,406,000 after buying an additional 89,094 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Occidental Petroleum by 100.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 15,083 shares of the oil and gas producer’s stock valued at $901,000 after buying an additional 7,568 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter valued at about $670,000. Finally, InterOcean Capital Group LLC grew its holdings in shares of Occidental Petroleum by 5.3% during the fourth quarter. InterOcean Capital Group LLC now owns 11,001 shares of the oil and gas producer’s stock valued at $657,000 after buying an additional 555 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

About Occidental Petroleum

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.