Piper Jaffray Companies set a $59.00 price objective on Occidental Petroleum (NYSE:OXY) in a research report report published on Friday morning, TipRanks reports. The firm currently has a buy rating on the oil and gas producer’s stock.
Several other research firms have also weighed in on OXY. TheStreet lowered shares of Occidental Petroleum from a b- rating to a c+ rating in a research note on Friday, May 24th. Jefferies Financial Group lowered shares of Occidental Petroleum from a buy rating to a hold rating and dropped their price objective for the company from $74.00 to $66.00 in a research note on Monday, April 29th. Morgan Stanley decreased their target price on shares of Occidental Petroleum from $55.00 to $52.00 and set an equal weight rating for the company in a research report on Friday, July 12th. Barclays initiated coverage on shares of Occidental Petroleum in a research report on Monday. They issued an equal weight rating and a $61.00 target price for the company. Finally, Argus downgraded shares of Occidental Petroleum from a buy rating to a hold rating and set a $54.61 target price for the company. in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $67.56.
Shares of NYSE OXY traded up $1.01 during midday trading on Friday, reaching $45.58. The company’s stock had a trading volume of 9,850,709 shares, compared to its average volume of 8,231,396. The company has a current ratio of 1.20, a quick ratio of 1.00 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $49.69 and a 200 day moving average price of $57.62. Occidental Petroleum has a one year low of $43.08 and a one year high of $83.35. The company has a market cap of $32.90 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 2.47 and a beta of 0.82.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a dividend of $0.79 per share. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 6.93%. The ex-dividend date is Monday, September 9th. Occidental Petroleum’s dividend payout ratio is currently 62.28%.
In related news, insider Vicki A. Hollub bought 37,460 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $48.15 per share, for a total transaction of $1,803,699.00. Following the purchase, the insider now directly owns 248,326 shares in the company, valued at $11,956,896.90. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Avedick Baruyr Poladian bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were bought at an average price of $48.77 per share, with a total value of $243,850.00. Following the completion of the purchase, the director now owns 60,319 shares in the company, valued at $2,941,757.63. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 104,160 shares of company stock valued at $5,023,276. 0.15% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Occidental Petroleum by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,690,890 shares of the oil and gas producer’s stock valued at $410,668,000 after buying an additional 331,307 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Occidental Petroleum by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 9,152,375 shares of the oil and gas producer’s stock worth $560,842,000 after purchasing an additional 316,507 shares in the last quarter. Winslow Evans & Crocker Inc. increased its stake in shares of Occidental Petroleum by 32.4% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 3,292 shares of the oil and gas producer’s stock worth $220,000 after purchasing an additional 806 shares in the last quarter. Miller Howard Investments Inc. NY increased its stake in shares of Occidental Petroleum by 19.3% during the 1st quarter. Miller Howard Investments Inc. NY now owns 1,048,081 shares of the oil and gas producer’s stock worth $69,383,000 after purchasing an additional 169,712 shares in the last quarter. Finally, Conning Inc. increased its stake in shares of Occidental Petroleum by 2.1% during the 1st quarter. Conning Inc. now owns 17,651 shares of the oil and gas producer’s stock worth $1,168,000 after purchasing an additional 369 shares in the last quarter. Hedge funds and other institutional investors own 80.49% 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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