Occidental Petroleum (NYSE:OXY) PT Lowered to $63.00

Occidental Petroleum (NYSE:OXY) had its price objective reduced by Evercore ISI from $67.00 to $63.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an underperform rating on the oil and gas producer’s stock.

Several other research firms also recently weighed in on OXY. Mizuho dropped their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a neutral rating for the company in a research report on Monday, September 16th. Truist Financial decreased their price target on Occidental Petroleum from $65.00 to $56.00 and set a hold rating for the company in a research note on Monday. Susquehanna decreased their price target on Occidental Petroleum from $81.00 to $78.00 and set a positive rating for the company in a research note on Wednesday, September 4th. Scotiabank decreased their price target on Occidental Petroleum from $90.00 to $80.00 and set a sector outperform rating for the company in a research note on Friday, July 12th. Finally, UBS Group decreased their price target on Occidental Petroleum from $70.00 to $59.00 and set a neutral rating for the company in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum presently has a consensus rating of Hold and a consensus price target of $67.31.

Occidental Petroleum Trading Up 2.5 %

Shares of OXY opened at $54.78 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. Occidental Petroleum has a one year low of $49.75 and a one year high of $71.18. The stock has a 50-day moving average price of $55.17 and a 200 day moving average price of $60.67. The company has a market capitalization of $49.61 billion, a P/E ratio of 14.97 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. Sell-side analysts forecast that Occidental Petroleum will post 3.57 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.61%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Buying and Selling

In other news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the sale, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by insiders.

Institutional Trading of Occidental Petroleum

Institutional investors have recently made changes to their positions in the business. Berkshire Hathaway Inc lifted its holdings in shares of Occidental Petroleum by 8.7% during the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after acquiring an additional 19,586,612 shares during the period. American Century Companies Inc. increased its position in shares of Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in Occidental Petroleum by 20.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock valued at $104,707,000 after purchasing an additional 277,462 shares during the last quarter. Himalaya Capital Management LLC acquired a new position in Occidental Petroleum in the second quarter valued at about $92,433,000. Finally, Cooke & Bieler LP increased its holdings in shares of Occidental Petroleum by 53.1% during the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock worth $91,398,000 after buying an additional 503,173 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Company Profile

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