Occidental Petroleum’s (OXY) Hold Rating Reaffirmed at Scotiabank
Scotiabank reiterated their hold rating on shares of Occidental Petroleum Corporation (NYSE:OXY) in a report published on Wednesday. Scotiabank currently has a $64.00 price target on the oil and gas producer’s stock.
A number of other research analysts have also commented on OXY. Jefferies Group LLC set a $64.00 price objective on shares of Occidental Petroleum and gave the company a hold rating in a research note on Saturday, July 29th. BidaskClub upgraded shares of Occidental Petroleum from a strong sell rating to a sell rating in a research note on Monday, July 31st. Barclays PLC set a $38.00 price objective on shares of Occidental Petroleum and gave the company a sell rating in a research note on Friday, August 4th. Cowen Inc reiterated a buy rating and set a $75.00 price objective on shares of Occidental Petroleum in a research note on Tuesday, August 22nd. Finally, Piper Jaffray Companies set a $55.00 price objective on shares of Occidental Petroleum and gave the company a hold rating in a research note on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. Occidental Petroleum currently has an average rating of Hold and a consensus target price of $67.27.
Shares of Occidental Petroleum (NYSE:OXY) opened at $68.42 on Wednesday. Occidental Petroleum has a 12 month low of $57.20 and a 12 month high of $73.51. The company has a market cap of $52,358.06, a P/E ratio of 195.49, a price-to-earnings-growth ratio of 14.57 and a beta of 0.63. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.07. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business earned ($0.15) earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. equities research analysts forecast that Occidental Petroleum will post 0.74 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum’s payout ratio is 440.00%.
Large investors have recently modified their holdings of the stock. Barometer Capital Management Inc. acquired a new position in Occidental Petroleum in the 3rd quarter worth approximately $12,213,000. BP PLC acquired a new position in Occidental Petroleum in the 2nd quarter worth approximately $5,210,000. Federated Investors Inc. PA boosted its stake in Occidental Petroleum by 18.0% in the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock worth $453,184,000 after purchasing an additional 1,152,152 shares during the period. BB&T Securities LLC boosted its stake in Occidental Petroleum by 71.1% in the 2nd quarter. BB&T Securities LLC now owns 452,611 shares of the oil and gas producer’s stock worth $27,097,000 after purchasing an additional 188,009 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its stake in Occidental Petroleum by 72.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 847,287 shares of the oil and gas producer’s stock worth $50,831,000 after purchasing an additional 356,351 shares during the period. Hedge funds and other institutional investors own 80.82% of the company’s stock.
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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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