Occidental Petroleum (NYSE:OXY) had its price objective trimmed by JPMorgan Chase from $75.00 to $74.00 in a research note issued to investors on Monday morning. The firm currently has a neutral rating on the oil and gas producer’s stock.
OXY has been the subject of several other research reports. Morgan Stanley upped their price target on shares of Occidental Petroleum from $66.00 to $84.00 and gave the stock an equal weight rating in a research report on Wednesday, January 24th. Citigroup raised shares of Occidental Petroleum from a sell rating to a neutral rating and set a $73.00 price target for the company in a research report on Monday, January 22nd. Macquarie assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, January 17th. They issued a neutral rating for the company. BMO Capital Markets reaffirmed a hold rating and issued a $75.00 price target on shares of Occidental Petroleum in a research report on Tuesday, February 27th. Finally, Deutsche Bank raised shares of Occidental Petroleum from a hold rating to a buy rating and set a $84.00 price target for the company in a research report on Friday, March 23rd. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $72.24.
Shares of OXY stock opened at $71.68 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.12. The stock has a market capitalization of $52,741.70, a price-to-earnings ratio of 80.54, a P/E/G ratio of 3.93 and a beta of 0.65. Occidental Petroleum has a one year low of $57.20 and a one year high of $78.09.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.41. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.54 billion. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. During the same period in the prior year, the firm earned ($0.13) EPS. equities analysts forecast that Occidental Petroleum will post 2.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.30%. Occidental Petroleum’s dividend payout ratio is currently 346.07%.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Goodman Financial Corp acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth $116,000. Trustcore Financial Services LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth $153,000. Field & Main Bank acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth $166,000. Good Life Advisors LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth $203,000. Finally, Argent Trust Co acquired a new stake in shares of Occidental Petroleum in the fourth quarter worth $201,000. 82.69% of the stock is owned by institutional investors and hedge funds.
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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 and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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