A number of firms have modified their ratings and price targets on shares of Occidental Petroleum (NYSE: OXY) recently:

  • 5/14/2018 – Occidental Petroleum was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $94.00 price target on the stock. According to Zacks, “In a year’s time, shares of Occidental Petroleum have outperformed its industry.  Occidental Petroleum’s first-quarter 2018 earnings per share and total revenues both were better than expected, thanks to the strong performance from its segments. As Oil prices continue to improve, Occidental Petroleum gains from more oil production in the Permian Resources and concentrating on high-margin production region. The ongoing capital investment will further strengthen the existing operation of the company. The company generates stable cash flow and its Chemical plant will further improve its cash flow. 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.”
  • 5/10/2018 – Occidental Petroleum was upgraded by analysts at Bank of America from a “neutral” rating to a “buy” rating. They now have a $100.00 price target on the stock.
  • 5/9/2018 – Occidental Petroleum had its price target raised by analysts at Credit Suisse Group from $76.00 to $80.00. They now have a “neutral” rating on the stock.
  • 5/8/2018 – Occidental Petroleum was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating.
  • 5/2/2018 – Occidental Petroleum was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 4/15/2018 – Occidental Petroleum was upgraded by analysts at Piper Jaffray from a “neutral” rating to an “overweight” rating. They now have a $86.00 price target on the stock, up previously from $77.00.
  • 4/9/2018 – Occidental Petroleum had its price target lowered by analysts at JPMorgan Chase from $75.00 to $74.00. They now have a “neutral” rating on the stock.
  • 4/9/2018 – Occidental Petroleum was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 3/23/2018 – Occidental Petroleum was upgraded by analysts at Deutsche Bank from a “hold” rating to a “buy” rating. They now have a $84.00 price target on the stock.

Shares of Occidental Petroleum opened at $86.16 on Friday, according to Marketbeat. The stock has a market capitalization of $64.52 billion, a P/E ratio of 96.81, a P/E/G ratio of 3.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.26 and a quick ratio of 1.11. Occidental Petroleum has a 52-week low of $83.38 and a 52-week high of $84.60.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.21. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.63 billion. Occidental Petroleum had a net margin of 13.47% and a return on equity of 6.15%. Occidental Petroleum’s revenue was up 28.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. equities research analysts expect that Occidental Petroleum will post 3.79 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, June 11th will be given a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 8th. This represents a $3.08 dividend on an annualized basis and a yield of 3.57%. Occidental Petroleum’s dividend payout ratio is presently 346.07%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Occidental Petroleum by 21.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock valued at $1,418,851,000 after purchasing an additional 3,366,402 shares in the last quarter. Millennium Management LLC boosted its position in shares of Occidental Petroleum by 2,791.8% during the 4th quarter. Millennium Management LLC now owns 1,989,031 shares of the oil and gas producer’s stock valued at $146,512,000 after purchasing an additional 1,920,249 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Occidental Petroleum by 275.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,985,993 shares of the oil and gas producer’s stock valued at $146,288,000 after purchasing an additional 1,456,337 shares in the last quarter. Tide Point Capital Management LP bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $82,756,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Occidental Petroleum by 172.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,722,476 shares of the oil and gas producer’s stock valued at $111,893,000 after purchasing an additional 1,089,145 shares in the last quarter. Hedge funds and other institutional investors own 82.63% of the company’s stock.

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.