Occidental Petroleum Co. (OXY) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Occidental Petroleum Co. (NYSE:OXY) have been assigned a consensus rating of “Hold” from the twenty-six research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $75.94.

Several research analysts have recently issued reports on the stock. Raymond James set a $80.00 price objective on shares of Occidental Petroleum and gave the company a “buy” rating in a report on Thursday, May 23rd. TheStreet cut shares of Occidental Petroleum from a “b-” rating to a “c+” rating in a report on Friday, May 24th. Oppenheimer assumed coverage on shares of Occidental Petroleum in a report on Wednesday, March 27th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, April 16th. Finally, Royal Bank of Canada increased their price objective on shares of Occidental Petroleum to $76.00 in a report on Tuesday, May 7th.

NYSE OXY traded up $1.61 on Thursday, hitting $49.04. The stock had a trading volume of 11,656,601 shares, compared to its average volume of 7,741,949. Occidental Petroleum has a one year low of $47.00 and a one year high of $87.67. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The stock has a market cap of $37.16 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 2.56 and a beta of 0.86.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, topping the consensus estimate of $0.72 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. Occidental Petroleum’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS. As a group, equities research analysts expect that Occidental Petroleum will post 3.88 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s payout ratio is 62.28%.

A number of large investors have recently modified their holdings of OXY. We Are One Seven LLC bought a new stake in Occidental Petroleum during the fourth quarter worth approximately $25,000. Country Trust Bank lifted its position in shares of Occidental Petroleum by 434.6% in the 4th quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock valued at $26,000 after acquiring an additional 339 shares in the last quarter. Pinnacle Bank purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $28,000. Sontag Advisory LLC purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $32,000. Finally, Rational Advisors LLC lifted its position in shares of Occidental Petroleum by 83.2% in the 4th quarter. Rational Advisors LLC now owns 555 shares of the oil and gas producer’s stock valued at $34,000 after acquiring an additional 252 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

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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Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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