Occidental Petroleum (NYSE:OXY) PT Lowered to $77.00

Occidental Petroleum (NYSE:OXY) had its price objective lowered by Susquehanna from $78.00 to $77.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a positive rating on the oil and gas producer’s stock.

OXY has been the subject of several other research reports. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target for the company. Bank of America started coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price on the stock. Wolfe Research began coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target on the stock. Truist Financial lowered their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Finally, Mizuho cut their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $65.72.

Occidental Petroleum Trading Up 0.3 %

NYSE OXY opened at $51.82 on Friday. Occidental Petroleum has a 52 week low of $49.75 and a 52 week high of $71.18. The company has a 50 day moving average price of $53.93 and a 200 day moving average price of $59.64. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The firm has a market cap of $45.95 billion, a PE ratio of 14.16 and a beta of 1.57.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 earnings per share. As a group, sell-side analysts forecast that Occidental Petroleum will post 3.48 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors have recently modified their holdings of the business. American Century Companies Inc. raised its position in Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after purchasing an additional 532,318 shares in the last quarter. Epoch Investment Partners Inc. increased its stake in shares of Occidental Petroleum by 20.1% during the second quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock worth $104,707,000 after buying an additional 277,462 shares during the period. Himalaya Capital Management LLC acquired a new stake in Occidental Petroleum in the second quarter valued at approximately $92,433,000. Cooke & Bieler LP lifted its stake in Occidental Petroleum by 53.1% in the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after acquiring an additional 503,173 shares during the last quarter. Finally, Clean Energy Transition LLP acquired a new position in Occidental Petroleum during the 1st quarter worth approximately $67,601,000. Institutional investors and hedge funds 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.