Brokerages Set Occidental Petroleum Co. (OXY) Target Price at $84.71

Occidental Petroleum Co. (NYSE:OXY) has earned a consensus rating of “Buy” from the twenty-five ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $83.80.

A number of analysts have recently commented on OXY shares. KeyCorp started coverage on Occidental Petroleum in a research note on Thursday, December 20th. They issued an “overweight” rating and a $75.00 target price on the stock. Capital One Financial downgraded Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. Atlantic Securities upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and set a $85.00 target price on the stock in a research note on Friday, December 21st. Zacks Investment Research downgraded Occidental Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, January 11th. Finally, Mizuho restated a “buy” rating and issued a $82.00 target price on shares of Occidental Petroleum in a research note on Wednesday, February 13th.

A number of hedge funds have recently modified their holdings of OXY. Tortoise Capital Advisors L.L.C. boosted its position in Occidental Petroleum by 355.9% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 190,297 shares of the oil and gas producer’s stock worth $15,637,000 after purchasing an additional 148,557 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Occidental Petroleum by 87.4% during the third quarter. Loomis Sayles & Co. L P now owns 4,886 shares of the oil and gas producer’s stock valued at $401,000 after acquiring an additional 2,279 shares during the last quarter. Capital International Sarl raised its holdings in shares of Occidental Petroleum by 10.1% during the third quarter. Capital International Sarl now owns 61,400 shares of the oil and gas producer’s stock valued at $5,045,000 after acquiring an additional 5,650 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Occidental Petroleum by 29.2% during the third quarter. Capital Research Global Investors now owns 3,876,663 shares of the oil and gas producer’s stock valued at $318,545,000 after acquiring an additional 876,663 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Occidental Petroleum by 41.9% during the third quarter. Pacer Advisors Inc. now owns 50,102 shares of the oil and gas producer’s stock valued at $4,117,000 after acquiring an additional 14,791 shares during the last quarter. Institutional investors own 84.34% of the company’s stock.

Occidental Petroleum stock traded down $1.02 during trading hours on Wednesday, hitting $62.65. 6,308,497 shares of the stock traded hands, compared to its average volume of 4,578,037. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.17 and a current ratio of 1.34. The company has a market cap of $47.62 billion, a PE ratio of 12.50, a PEG ratio of 1.18 and a beta of 0.83. Occidental Petroleum has a 1 year low of $56.83 and a 1 year high of $87.67.

Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the prior year, the business earned $0.41 earnings per share. The company’s revenue was up 33.8% compared to the same quarter last year. As a group, analysts predict that Occidental Petroleum will post 3.69 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 11th were given a dividend of $0.78 per share. The ex-dividend date was Friday, March 8th. This represents a $3.12 dividend on an annualized basis and a yield of 4.98%. Occidental Petroleum’s dividend payout ratio is currently 62.28%.

Occidental Petroleum Company Profile

Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.

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Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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