Occidental Petroleum (NYSE:OXY) Price Target Raised to $59.00

Occidental Petroleum (NYSE:OXY) had its price objective raised by Barclays from $55.00 to $59.00 in a research note released on Monday,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas producer’s stock.

Several other brokerages have also commented on OXY. Wells Fargo & Company raised shares of Occidental Petroleum from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $47.00 to $69.00 in a research report on Thursday, March 12th. Citigroup reduced their target price on shares of Occidental Petroleum from $49.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Weiss Ratings upgraded shares of Occidental Petroleum from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 9th. BMO Capital Markets lifted their price target on shares of Occidental Petroleum from $48.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, February 23rd. Finally, Morgan Stanley reduced their price objective on Occidental Petroleum from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has a consensus rating of “Hold” and an average target price of $54.05.

Occidental Petroleum Stock Up 1.2%

Shares of NYSE:OXY opened at $58.45 on Monday. Occidental Petroleum has a 1 year low of $34.78 and a 1 year high of $59.15. The company has a market capitalization of $57.65 billion, a PE ratio of 36.30 and a beta of 0.34. The business has a fifty day moving average price of $48.52 and a two-hundred day moving average price of $44.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.74.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.13. The company had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Occidental Petroleum had a return on equity of 9.89% and a net margin of 9.14%.The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. Analysts forecast that Occidental Petroleum will post 3.58 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 10th will be issued a $0.26 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $1.04 annualized dividend and a yield of 1.8%. Occidental Petroleum’s payout ratio is 64.60%.

Institutional Investors Weigh In On Occidental Petroleum

A number of hedge funds and other institutional investors have recently bought and sold shares of OXY. Caitlin John LLC purchased a new position in shares of Occidental Petroleum in the fourth quarter valued at $29,000. Activest Wealth Management raised its stake in shares of Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 305 shares during the period. Rossby Financial LCC lifted its holdings in Occidental Petroleum by 155.0% during the 4th quarter. Rossby Financial LCC now owns 765 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 465 shares in the last quarter. City Holding Co. boosted its stake in Occidental Petroleum by 250.0% in the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 500 shares during the period. Finally, Binnacle Investments Inc purchased a new position in Occidental Petroleum during the 3rd quarter valued at about $35,000. Institutional investors own 88.70% of the company’s stock.

More Occidental Petroleum News

Here are the key news stories impacting Occidental Petroleum this week:

• Positive Sentiment: Mizuho raised its price target on OXY to $72 and assigned an “outperform” rating, giving the shares meaningful upside from current levels and signaling buy-side conviction from a major sell-side firm. Read More
• Positive Sentiment: A Barclays analyst said Occidental’s stock price is expected to rise, reflecting bullish analyst sentiment that can attract flows and support the rally. Occidental Petroleum (NYSE:OXY) Stock Price Expected to Rise, Barclays Analyst Says
• Positive Sentiment: Sector tailwinds from higher crude and geopolitical tensions are benefiting top E&P names like OXY—analysts and trade press list Occidental among the energy companies that stand to gain as oil rallies. That macro squeeze on supply/demand is a direct revenue and cash-flow tailwind. 5 Oil and Gas Stocks That Benefit From Soaring Crude Prices
• Positive Sentiment: Trading/activity flagged in the Russell 1000 suggests index-related flows and institutional attention, which can amplify moves if inclusion/reweighting continues. Occidental Petroleum (NYSE:OXY) Activity Seen in Russell 1000
• Neutral Sentiment: Zacks notes increased retail/investor attention on OXY, which can boost short-term volatility and headline-driven trading but doesn’t guarantee sustained fundamental improvement. Is Trending Stock Occidental Petroleum Corporation (OXY) a Buy Now?
• Neutral Sentiment: Post-upgrade valuation pieces point to improved sentiment and a re-rate opportunity, but they also note valuation nuances and sensitivity to oil prices—so upside depends on sustained commodity support. A Look At Occidental Petroleum (OXY) Valuation After Analyst Upgrades And Higher Oil Price Tailwinds
• Negative Sentiment: Despite recent strength, OXY has seen short-term pullbacks at times (a recent session where the stock declined), underscoring the risk of volatility if oil prices or sentiment reverse. Occidental Petroleum (OXY) Stock Declines While Market Improves: Some Information for Investors

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.