Occidental Petroleum Corporation (NYSE: OXY) has recently received a number of price target changes and ratings updates:

  • 8/4/2017 – Occidental Petroleum Corporation was given a new $38.00 price target on by analysts at Barclays PLC. They now have a “sell” rating on the stock.
  • 7/31/2017 – Occidental Petroleum Corporation was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 7/29/2017 – Occidental Petroleum Corporation was given a new $64.00 price target on by analysts at Jefferies Group LLC. They now have a “hold” rating on the stock.
  • 7/21/2017 – Occidental Petroleum Corporation was downgraded by analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating. They now have a $58.00 price target on the stock, down previously from $66.00.
  • 7/19/2017 – Occidental Petroleum Corporation was given a new $75.00 price target on by analysts at Cowen and Company. They now have a “buy” rating on the stock.
  • 7/17/2017 – Occidental Petroleum Corporation was upgraded by analysts at Wolfe Research from a “market perform” rating to an “outperform” rating.
  • 7/14/2017 – Occidental Petroleum Corporation had its price target lowered by analysts at BMO Capital Markets from $60.00 to $55.00. They now have a “market perform” rating on the stock.
  • 7/11/2017 – Occidental Petroleum Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Loss in Occidental Petroleum’ share price was wider than the broader industry’s loss in last one year. Occidental Petroleum like other oil and natural gas companies faces the risks of cost overruns and development interruptions due to delays in drilling and other approvals, property or border disputes, and equipment failures. The recent weakness in oil prices could jeopardize Occidental Petroleum’s plan to gain by producing more oil from the Permian Resources. Nonetheless, Occidental Petroleum is a stable cash flow generator. The company has plans to sell its low-margin assets and focus on higher-quality assets.”
  • 7/4/2017 – Occidental Petroleum Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Drop in Occidental Petroleum’ share price was wider than the broader industry’s loss in last twelve months. Occidental Petroleum like other oil and natural gas companies faces the risks of cost overruns and development interruptions due to delays in drilling and other approvals, property or border disputes, and equipment failures. The recent weakness in oil prices could jeopardize Occidental Petroleum’s plan to gain by producing more oil from the Permian Resources. Nonetheless, Occidental Petroleum is a stable cash flow generator. The company has plans to sell its low-margin assets and focus on higher-quality assets.”
  • 6/30/2017 – Occidental Petroleum Corporation had its “hold” rating reaffirmed by analysts at Scotiabank. They now have a $60.00 price target on the stock.
  • 6/23/2017 – Occidental Petroleum Corporation had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $64.00 price target on the stock.
  • 6/22/2017 – Occidental Petroleum Corporation had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $65.00 price target on the stock.
  • 6/20/2017 – Occidental Petroleum Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Occidental Petroleum has been reaping the benefits of its continued focus on the Permian Resources. Occidental Petroleum is a stable cash flow generator. The company has plans to sell its low-margin assets and focus on higher-quality assets. However, much like other oil and natural gas companies, Occidental Petroleum faces cost overruns and development interruptions due to delays in drilling and other approvals, property or border disputes, and equipment failures. The recent weakness in oil prices could jeopardize Occidental Petroleum’s plan to gain by producing more oil from the Permian Resources.”
  • 6/14/2017 – Occidental Petroleum Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “In last three months Occidental Petroleum’s shares lost more than the Zacks categorized broader industry. The recent weakness in oil prices could jeopardize Occidental Petroleum’s plan to gain by producing more oil from the Permian Resources. The highly competitive oil and gas space, operational interruptions and stringent environmental regulations are headwinds. However, Occidental has plans to sell its low-margin assets and focus on higher-quality assets. Its systematic capital spending program and focus in areas like Permian Resources having high oil content could boost its performance in the long term.”

Shares of Occidental Petroleum Corporation (NYSE:OXY) traded down 0.52% during mid-day trading on Thursday, hitting $61.34. 2,991,021 shares of the stock were exchanged. The firm has a 50-day moving average price of $60.45 and a 200 day moving average price of $62.65. The company has a market capitalization of $46.90 billion, a PE ratio of 431.97 and a beta of 0.65. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48.

Occidental Petroleum Corporation (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. The company 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 business’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period last year, the business earned ($0.18) EPS. On average, equities research analysts expect that Occidental Petroleum Corporation will post $0.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be paid a dividend of $0.77 per share. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,338.46%.

In other Occidental Petroleum Corporation news, CFO Cedric W. Burgher purchased 1,700 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was bought at an average cost of $59.85 per share, with a total value of $101,745.00. Following the purchase, the chief financial officer now directly owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by company insiders.

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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