Occidental Petroleum Corporation (NYSE:OXY) Given Average Recommendation of "Hold" by Brokerages

Occidental Petroleum Corporation (NYSE:OXY — Get Free Report) has been assigned a consensus recommendation of “Hold” from the twenty-three analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $50.5238.

Several analysts have recently commented on the company. Piper Sandler reduced their target price on Occidental Petroleum from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. Melius assumed coverage on Occidental Petroleum in a report on Wednesday, August 20th. They set a “hold” rating and a $64.00 price objective for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Occidental Petroleum in a report on Wednesday, October 8th. Finally, Evercore ISI decreased their price target on shares of Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research note on Friday, October 3rd.

Get Our Latest Analysis on OXY

Institutional Trading of Occidental Petroleum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. boosted its position in shares of Occidental Petroleum by 8.9% during the first quarter. Avantax Advisory Services Inc. now owns 25,281 shares of the oil and gas producer’s stock valued at $1,248,000 after buying an additional 2,076 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Occidental Petroleum by 22.4% during the 1st quarter. Mackenzie Financial Corp now owns 61,376 shares of the oil and gas producer’s stock valued at $3,030,000 after acquiring an additional 11,218 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in Occidental Petroleum by 5.1% during the 1st quarter. Foundations Investment Advisors LLC now owns 11,293 shares of the oil and gas producer’s stock worth $557,000 after acquiring an additional 546 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Occidental Petroleum by 18.8% in the 1st quarter. Federated Hermes Inc. now owns 3,012 shares of the oil and gas producer’s stock worth $149,000 after acquiring an additional 477 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Occidental Petroleum in the first quarter valued at about $435,000. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $41.95 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum has a 52 week low of $34.78 and a 52 week high of $53.20. The firm has a 50 day moving average of $42.81 and a 200-day moving average of $43.77. The company has a market cap of $41.33 billion, a price-to-earnings ratio of 24.82 and a beta of 0.91.

Occidental Petroleum (NYSE:OXY — Get Free Report) last issued its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The business had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.66 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. Occidental Petroleum’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts forecast that Occidental Petroleum will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 10th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, December 10th. Occidental Petroleum’s dividend payout ratio is currently 70.59%.

About Occidental Petroleum

(Get Free Report)

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.

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