Occidental Petroleum (OXY) Now Covered by Analysts at Credit Suisse Group

Credit Suisse Group began coverage on shares of Occidental Petroleum (NYSE:OXY) in a report published on Monday, December 11th, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $62.00 price target on the oil and gas producer’s stock.

OXY has been the topic of several other research reports. ValuEngine raised Occidental Petroleum from a sell rating to a hold rating in a research note on Friday, December 1st. Barclays increased their price target on Occidental Petroleum from $45.00 to $47.00 and gave the stock an underweight rating in a report on Monday, November 20th. Mizuho restated a hold rating and issued a $64.00 price target on shares of Occidental Petroleum in a report on Friday, November 3rd. Scotiabank reiterated a hold rating and set a $64.00 price objective on shares of Occidental Petroleum in a report on Wednesday, November 22nd. Finally, Jefferies Group increased their price objective on Occidental Petroleum from $62.00 to $66.00 and gave the stock a hold rating in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. Occidental Petroleum currently has an average rating of Hold and a consensus target price of $65.43.

Shares of Occidental Petroleum (OXY) traded down $0.22 during midday trading on Monday, reaching $73.32. The company’s stock had a trading volume of 2,237,532 shares, compared to its average volume of 4,478,046. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. The company has a market cap of $56,120.00, a P/E ratio of 103.27, a P/E/G ratio of 14.54 and a beta of 0.65. Occidental Petroleum has a 52 week low of $57.20 and a 52 week high of $73.90.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. Occidental Petroleum’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) earnings per share. sell-side analysts expect that Occidental Petroleum will post 0.77 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.20%. Occidental Petroleum’s payout ratio is 433.80%.

A number of institutional investors and hedge funds have recently made changes to their positions in OXY. Grove Bank & Trust increased its holdings in Occidental Petroleum by 54.8% during the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after purchasing an additional 622 shares in the last quarter. Oakworth Capital Inc. boosted its stake in shares of Occidental Petroleum by 14.7% in the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after buying an additional 250 shares during the last quarter. Fis Group Inc. purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth approximately $126,000. Enterprise Financial Services Corp boosted its stake in shares of Occidental Petroleum by 68.5% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock worth $127,000 after buying an additional 806 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Occidental Petroleum by 14.2% in the 2nd quarter. Parallel Advisors LLC now owns 2,240 shares of the oil and gas producer’s stock worth $139,000 after buying an additional 279 shares during the last quarter. 80.16% of the stock is currently owned by hedge funds and other institutional investors.

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About Occidental Petroleum

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.

Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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