Occidental Petroleum Corporation (NYSE:OXY)‘s stock had its “hold” rating reissued by equities researchers at BMO Capital Markets in a research report issued to clients and investors on Thursday. They presently have a $65.00 price objective on the oil and gas producer’s stock. BMO Capital Markets’ price target would indicate a potential upside of 8.12% from the company’s previous close.

OXY has been the topic of a number of other reports. Jefferies Group LLC restated a “hold” rating and issued a $70.00 price target on shares of Occidental Petroleum Corporation in a research report on Monday, May 15th. Credit Suisse Group restated a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum Corporation in a research report on Friday, May 19th. Evercore ISI lowered shares of Occidental Petroleum Corporation to a “buy” rating in a research report on Friday, March 3rd. Bank of America Corporation reaffirmed a “buy” rating and issued a $80.00 target price (down from $83.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, May 11th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $67.00 target price on shares of Occidental Petroleum Corporation in a research note on Tuesday, March 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Occidental Petroleum Corporation has an average rating of “Hold” and a consensus target price of $71.69.

Analyst Recommendations for Occidental Petroleum Corporation (NYSE:OXY)

Shares of Occidental Petroleum Corporation (OXY) opened at 60.12 on Thursday. The firm has a 50 day moving average of $60.52 and a 200 day moving average of $65.15. The firm’s market cap is $45.97 billion. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $78.48.

Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.96 billion. Occidental Petroleum Corporation had a negative net margin of 4.82% and a negative return on equity of 1.04%. The company’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.47) earnings per share. Equities analysts predict that Occidental Petroleum Corporation will post $0.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 9th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Wednesday, June 7th. Occidental Petroleum Corporation’s dividend payout ratio is currently -428.17%.

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In related news, CFO Cedric W. Burgher purchased 1,700 shares of Occidental Petroleum Corporation stock in a transaction dated Wednesday, June 7th. The stock was bought at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the completion of the acquisition, the chief financial officer now directly owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen I. Chazen sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $60.53, for a total transaction of $242,120.00. Following the completion of the transaction, the director now owns 1,460,619 shares of the company’s stock, valued at approximately $88,411,268.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,000 shares of company stock valued at $1,744,800. Corporate insiders own 0.32% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Occidental Petroleum Corporation by 3,198.5% in the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock valued at $3,737,692,000 after buying an additional 57,202,942 shares during the period. Vanguard Group Inc. boosted its position in Occidental Petroleum Corporation by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock valued at $3,426,042,000 after buying an additional 983,992 shares during the period. State Street Corp boosted its position in Occidental Petroleum Corporation by 1.7% in the first quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock valued at $2,511,168,000 after buying an additional 681,032 shares during the period. Wellington Management Group LLP boosted its position in Occidental Petroleum Corporation by 0.8% in the first quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock valued at $884,058,000 after buying an additional 105,546 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Occidental Petroleum Corporation by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 13,615,738 shares of the oil and gas producer’s stock valued at $862,693,000 after buying an additional 360,721 shares during the period. Institutional investors own 81.55% of the company’s stock.

Occidental Petroleum Corporation Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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