Susquehanna Raises Occidental Petroleum (NYSE:OXY) Price Target to $81.00

Occidental Petroleum (NYSE:OXY) had its price target raised by Susquehanna from $70.00 to $81.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a positive rating on the oil and gas producer’s stock.

OXY has been the subject of a number of other reports. Truist Financial increased their price target on Occidental Petroleum from $77.00 to $84.00 and gave the stock a buy rating in a report on Friday, April 5th. StockNews.com upgraded Occidental Petroleum from a sell rating to a hold rating in a report on Friday, March 15th. Stephens reiterated an overweight rating and set a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. Mizuho increased their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a neutral rating in a report on Thursday, April 11th. Finally, Raymond James lowered their target price on Occidental Petroleum from $70.00 to $68.00 and set a strong-buy rating for the company in a report on Wednesday, January 24th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $71.94.

Occidental Petroleum Stock Down 0.1 %

Shares of NYSE:OXY opened at $67.33 on Monday. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $63.97 and a two-hundred day moving average of $61.29. The stock has a market cap of $59.69 billion, a P/E ratio of 17.22 and a beta of 1.64. Occidental Petroleum has a 52-week low of $55.12 and a 52-week high of $71.18.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.61 EPS. On average, research analysts expect that Occidental Petroleum will post 3.85 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were given a $0.22 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a yield of 1.31%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

Institutional Investors Weigh In On Occidental Petroleum

A number of hedge funds have recently bought and sold shares of the stock. Investment Research & Advisory Group Inc. raised its position in Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares in the last quarter. Everhart Financial Group Inc. raised its position in Occidental Petroleum by 2.3% in the 3rd quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer’s stock valued at $484,000 after purchasing an additional 169 shares in the last quarter. PFG Investments LLC raised its position in Occidental Petroleum by 2.7% in the 3rd quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock valued at $417,000 after purchasing an additional 170 shares in the last quarter. VisionPoint Advisory Group LLC raised its position in Occidental Petroleum by 1.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock valued at $957,000 after purchasing an additional 174 shares in the last quarter. Finally, Conning Inc. raised its position in shares of Occidental Petroleum by 3.6% during the 3rd quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock worth $334,000 after acquiring an additional 180 shares in the last quarter. Institutional investors and hedge funds own 88.70% 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, 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.