Evercore ISI upgraded shares of Occidental Petroleum (NYSE:OXY) from an in-line rating to an outperform rating in a report published on Wednesday, Marketbeat.com reports. Evercore ISI currently has $88.00 price objective on the oil and gas producer’s stock.
Other analysts also recently issued reports about the stock. Mizuho reiterated a buy rating on shares of Occidental Petroleum in a research report on Tuesday, July 24th. Morgan Stanley set a $101.00 target price on shares of Occidental Petroleum and gave the stock a buy rating in a report on Friday, October 12th. Zacks Investment Research upgraded shares of Occidental Petroleum from a hold rating to a buy rating and set a $92.00 target price on the stock in a report on Wednesday, October 10th. Edward Jones upgraded shares of Occidental Petroleum from a hold rating to a buy rating in a report on Tuesday, September 18th. Finally, Bank of America raised their target price on shares of Occidental Petroleum from $100.00 to $105.00 and gave the stock a buy rating in a report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $84.00.
Shares of NYSE:OXY traded up $0.92 during mid-day trading on Wednesday, reaching $73.55. The stock had a trading volume of 6,984,136 shares, compared to its average volume of 6,267,685. The company has a market capitalization of $55.66 billion, a price-to-earnings ratio of 82.64, a P/E/G ratio of 2.01 and a beta of 0.80. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.33 and a quick ratio of 1.19. Occidental Petroleum has a twelve month low of $62.47 and a twelve month high of $87.67.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.26. The business had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $4.60 billion. Occidental Petroleum had a net margin of 22.19% and a return on equity of 15.43%. Occidental Petroleum’s revenue for the quarter was up 98.9% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. Equities research analysts expect that Occidental Petroleum will post 5.18 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.24%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 350.56%.
In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of the stock in a transaction dated Monday, August 13th. The shares were bought at an average cost of $78.55 per share, for a total transaction of $392,750.00. Following the completion of the acquisition, the director now directly owns 77,963 shares of the company’s stock, valued at $6,123,993.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Occidental Petroleum by 170.8% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,327 shares of the oil and gas producer’s stock valued at $109,000 after purchasing an additional 837 shares during the last quarter. Westbourne Investment Advisors Inc. acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $138,000. Kaizen Advisory LLC raised its holdings in shares of Occidental Petroleum by 142.0% in the second quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock valued at $150,000 after purchasing an additional 1,052 shares during the last quarter. GeoSphere Capital Management LLC acquired a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $151,000. Finally, Spectrum Management Group Inc. acquired a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $160,000. Institutional investors own 80.95% 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 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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