Occidental Petroleum Corporation (OXY) Given a $60.00 Price Target at BMO Capital Markets
BMO Capital Markets set a $60.00 target price on Occidental Petroleum Corporation (NYSE:OXY) in a research note published on Tuesday. The brokerage currently has a hold rating on the oil and gas producer’s stock.
OXY has been the subject of a number of other reports. Jefferies Group LLC reaffirmed a hold rating and issued a $58.00 price target on shares of Occidental Petroleum Corporation in a report on Friday, October 6th. Cowen and Company reaffirmed a buy rating and issued a $80.00 price target on shares of Occidental Petroleum Corporation in a report on Thursday, September 28th. Zacks Investment Research raised Occidental Petroleum Corporation from a sell rating to a hold rating in a report on Tuesday, September 12th. Piper Jaffray Companies set a $55.00 price target on Occidental Petroleum Corporation and gave the company a hold rating in a report on Friday, August 25th. Finally, BidaskClub downgraded Occidental Petroleum Corporation from a sell rating to a strong sell rating in a report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $65.71.
Shares of Occidental Petroleum Corporation (NYSE:OXY) traded up 0.79% during trading on Tuesday, hitting $64.73. 3,377,630 shares of the company traded hands. The company has a 50-day moving average of $62.40 and a 200-day moving average of $61.36. The stock has a market capitalization of $49.49 billion, a PE ratio of 455.85 and a beta of 0.67. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $75.60.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The company’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) EPS. Equities analysts expect that Occidental Petroleum Corporation will post $0.66 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum Corporation’s dividend payout ratio is currently 2,369.23%.
In related news, Director William R. Klesse purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now directly owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Occidental Petroleum Corporation by 3,198.5% during the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after purchasing an additional 57,202,942 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Occidental Petroleum Corporation by 2.1% during the second quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock worth $3,304,357,000 after purchasing an additional 1,119,588 shares during the last quarter. State Street Corp raised its stake in shares of Occidental Petroleum Corporation by 1.7% during the first quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock worth $2,511,168,000 after purchasing an additional 681,032 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Occidental Petroleum Corporation by 0.8% during the first quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock worth $884,058,000 after purchasing an additional 105,546 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Occidental Petroleum Corporation by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock worth $830,010,000 after purchasing an additional 247,780 shares during the last quarter. Institutional investors and hedge funds own 80.59% 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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