Jefferies Group LLC Raises Occidental Petroleum Corporation (OXY) Price Target to $66.00
Occidental Petroleum Corporation (NYSE:OXY) had its price target boosted by Jefferies Group LLC from $62.00 to $66.00 in a report released on Friday. Jefferies Group LLC currently has a hold rating on the oil and gas producer’s stock.
Several other research analysts also recently commented on the company. Morgan Stanley raised their price objective on Occidental Petroleum Corporation from $62.00 to $66.00 and gave the stock an equal weight rating in a research note on Wednesday, October 18th. BidaskClub downgraded Occidental Petroleum Corporation from a sell rating to a strong sell rating in a research note on Thursday, August 24th. BMO Capital Markets set a $60.00 price objective on Occidental Petroleum Corporation and gave the stock a hold rating in a research note on Tuesday, October 10th. Barclays PLC raised their price objective on Occidental Petroleum Corporation from $38.00 to $40.00 and gave the stock an underweight rating in a research note on Wednesday, October 11th. Finally, Wolfe Research raised Occidental Petroleum Corporation from a market perform rating to an outperform rating in a research note on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $66.07.
Occidental Petroleum Corporation (OXY) traded up $0.61 during trading on Friday, hitting $68.87. The company had a trading volume of 1,242,209 shares, compared to its average volume of 4,414,681. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. The company has a market capitalization of $52,235.65, a PE ratio of 195.03, a PEG ratio of 14.84 and a beta of 0.63.
Occidental Petroleum Corporation (NYSE:OXY) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Occidental Petroleum Corporation had a return on equity of 1.31% and a net margin of 4.33%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Occidental Petroleum Corporation’s revenue was up 13.3% on a year-over-year basis. equities analysts expect that Occidental Petroleum Corporation will post 0.71 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Friday, December 8th. Occidental Petroleum Corporation’s payout ratio is 440.00%.
In related news, Director William R. Klesse purchased 10,000 shares of Occidental Petroleum Corporation stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average cost of $61.58 per share, with a total value of $615,800.00. Following the transaction, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.32% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Grove Bank & Trust grew its stake in Occidental Petroleum Corporation by 54.8% during the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 622 shares during the last quarter. Oakworth Capital Inc. grew its stake in Occidental Petroleum Corporation by 14.7% during the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after buying an additional 250 shares during the last quarter. Parallel Advisors LLC grew its stake in Occidental Petroleum Corporation by 15.6% during the 1st quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 264 shares during the last quarter. FNY Partners Fund LP purchased a new stake in Occidental Petroleum Corporation during the 1st quarter valued at about $126,000. Finally, Fis Group Inc. purchased a new stake in Occidental Petroleum Corporation during the 3rd quarter valued at about $126,000. Hedge funds and other institutional investors own 80.66% 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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