Barclays Lowers Occidental Petroleum (NYSE:OXY) Price Target to $58.00

Occidental Petroleum (NYSE:OXY) had its price objective decreased by Barclays from $67.00 to $58.00 in a report released on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the oil and gas producer’s stock.

Several other analysts have also issued reports on the stock. Susquehanna dropped their price target on shares of Occidental Petroleum from $81.00 to $78.00 and set a positive rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company lowered their price target on Occidental Petroleum from $65.00 to $56.00 and set an equal weight rating on the stock in a research report on Friday, September 27th. Scotiabank reduced their target price on Occidental Petroleum from $90.00 to $80.00 and set a sector outperform rating for the company in a research note on Friday, July 12th. StockNews.com raised shares of Occidental Petroleum from a sell rating to a hold rating in a research report on Friday, September 27th. Finally, Wolfe Research began coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued an outperform rating and a $81.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $67.18.

Occidental Petroleum Stock Up 1.8 %

OXY stock opened at $55.76 on Thursday. The business has a 50-day moving average of $55.08 and a 200-day moving average of $60.58. Occidental Petroleum has a fifty-two week low of $49.75 and a fifty-two week high of $71.18. The stock has a market capitalization of $50.50 billion, a P/E ratio of 15.23 and a beta of 1.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, topping the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. On average, sell-side analysts anticipate that Occidental Petroleum will post 3.49 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio is 24.04%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Occidental Petroleum

Large investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC raised its stake in Occidental Petroleum by 159.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 27,318 shares of the oil and gas producer’s stock worth $1,631,000 after buying an additional 16,793 shares during the last quarter. First Trust Advisors LP increased its holdings in Occidental Petroleum by 10.8% during the 4th quarter. First Trust Advisors LP now owns 994,528 shares of the oil and gas producer’s stock worth $59,383,000 after purchasing an additional 96,593 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in shares of Occidental Petroleum by 10.3% in the fourth quarter. Cetera Advisor Networks LLC now owns 82,869 shares of the oil and gas producer’s stock worth $4,948,000 after purchasing an additional 7,719 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Occidental Petroleum by 1,467.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 100,533 shares of the oil and gas producer’s stock valued at $6,003,000 after buying an additional 94,119 shares during the last quarter. Finally, Cibc World Markets Corp grew its stake in shares of Occidental Petroleum by 670.1% in the 4th quarter. Cibc World Markets Corp now owns 282,027 shares of the oil and gas producer’s stock worth $16,840,000 after acquiring an additional 245,405 shares in the last quarter. Institutional investors 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.