Occidental Petroleum Corporation (OXY) Receives Average Rating of “Hold” from Brokerages
Shares of Occidental Petroleum Corporation (NYSE:OXY) have received an average recommendation of “Hold” from the twenty-one ratings firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $65.43.
OXY has been the topic of several recent research reports. BidaskClub downgraded Occidental Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Piper Jaffray Companies set a $55.00 price objective on Occidental Petroleum and gave the stock a “hold” rating in a research report on Friday, August 25th. Jefferies Group set a $58.00 price objective on Occidental Petroleum and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Zacks Investment Research lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, August 31st. Finally, Cowen reissued a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum in a research report on Thursday, September 28th.
Occidental Petroleum (OXY) opened at $71.88 on Thursday. The company has a market capitalization of $54,255.90, a PE ratio of 202.57, a price-to-earnings-growth ratio of 14.12 and a beta of 0.65. Occidental Petroleum has a twelve month low of $57.20 and a twelve month high of $72.96. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum’s payout ratio is 440.00%.
Institutional investors have recently modified their holdings of the stock. Grove Bank & Trust increased its position in Occidental Petroleum by 54.8% in the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 622 shares in the last quarter. Oakworth Capital Inc. boosted its stake in Occidental Petroleum by 14.7% during the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after purchasing an additional 250 shares during the last quarter. Fis Group Inc. acquired a new position in Occidental Petroleum during the 3rd quarter valued at about $126,000. Enterprise Financial Services Corp boosted its stake in Occidental Petroleum by 68.5% during the 3rd quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock valued at $127,000 after purchasing an additional 806 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Occidental Petroleum by 14.2% during the 2nd quarter. Parallel Advisors LLC now owns 2,240 shares of the oil and gas producer’s stock valued at $139,000 after purchasing an additional 279 shares during the last quarter. 80.17% of the stock is owned by institutional investors and hedge funds.
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Occidental Petroleum 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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