Occidental Petroleum (OXY) Downgraded by ValuEngine

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ValuEngine downgraded shares of Occidental Petroleum (NYSE:OXY) from a sell rating to a strong sell rating in a report issued on Tuesday morning, ValuEngine reports.

OXY has been the subject of several other research reports. Zacks Investment Research cut Occidental Petroleum from a buy rating to a hold rating in a research note on Thursday, April 18th. KeyCorp downgraded Occidental Petroleum from an overweight rating to a sector weight rating in a research note on Wednesday, April 24th. Morgan Stanley set a $72.00 price objective on Occidental Petroleum and gave the stock a buy rating in a research note on Thursday, February 14th. Atlantic Securities downgraded Occidental Petroleum from an overweight rating to a neutral rating and set a $61.50 price objective for the company. in a research note on Thursday, April 25th. Finally, Mizuho downgraded Occidental Petroleum from a buy rating to a neutral rating and reduced their price objective for the stock from $83.00 to $70.00 in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Occidental Petroleum presently has a consensus rating of Hold and a consensus price target of $78.97.

Shares of NYSE:OXY traded up $1.05 during midday trading on Tuesday, hitting $58.41. 6,440,004 shares of the stock were exchanged, compared to its average volume of 5,731,461. The company has a market capitalization of $42.89 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.12 and a beta of 0.76. The company has a quick ratio of 1.17, a current ratio of 1.34 and a debt-to-equity ratio of 0.48. Occidental Petroleum has a twelve month low of $56.83 and a twelve month high of $87.67.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.39 billion. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. The business’s revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.41 EPS. As a group, equities analysts anticipate that Occidental Petroleum will post 3.64 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 11th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date was Friday, March 8th. Occidental Petroleum’s dividend payout ratio is 62.28%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc grew its holdings in shares of Occidental Petroleum by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock worth $5,133,793,000 after purchasing an additional 1,370,841 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Occidental Petroleum by 7.9% during the 4th quarter. Macquarie Group Ltd. now owns 10,146,677 shares of the oil and gas producer’s stock worth $622,804,000 after buying an additional 744,802 shares during the period. Northern Trust Corp lifted its position in shares of Occidental Petroleum by 2.6% during the 4th quarter. Northern Trust Corp now owns 9,890,631 shares of the oil and gas producer’s stock worth $607,087,000 after buying an additional 246,720 shares during the period. Dodge & Cox lifted its position in shares of Occidental Petroleum by 58.7% during the 3rd quarter. Dodge & Cox now owns 9,887,895 shares of the oil and gas producer’s stock worth $812,488,000 after buying an additional 3,656,670 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Occidental Petroleum by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 9,152,375 shares of the oil and gas producer’s stock worth $560,842,000 after buying an additional 316,507 shares during the period. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Company Profile

Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.

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Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

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