Occidental Petroleum (OXY) Upgraded at ValuEngine

ValuEngine upgraded shares of Occidental Petroleum (NYSE:OXY) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

Several other brokerages also recently commented on OXY. Barclays set a $38.00 price objective on shares of Occidental Petroleum and gave the stock a sell rating in a research report on Friday, August 4th. Zacks Investment Research raised shares of Occidental Petroleum from a sell rating to a hold rating in a research report on Tuesday, September 12th. Scotiabank reaffirmed a hold rating and set a $64.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, November 22nd. BMO Capital Markets set a $60.00 price objective on shares of Occidental Petroleum and gave the stock a hold rating in a research report on Tuesday, October 10th. Finally, Jefferies Group reaffirmed a hold rating and set a $58.00 price objective on shares of Occidental Petroleum in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $67.27.

Occidental Petroleum (NYSE:OXY) traded up $0.52 during trading hours on Friday, reaching $70.76. 1,480,779 shares of the company’s stock were exchanged, compared to its average volume of 4,523,272. The firm has a market cap of $53,750.83, a P/E ratio of 200.69, a PEG ratio of 14.25 and a beta of 0.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. Occidental Petroleum has a twelve month low of $57.20 and a twelve month high of $73.51.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, topping the consensus estimate of $0.11 by $0.07. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) EPS. research analysts expect that Occidental Petroleum will post 0.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum’s dividend payout ratio is currently 440.00%.

Large investors have recently modified their holdings of the business. Barometer Capital Management Inc. bought a new position in Occidental Petroleum during the 3rd quarter valued at $12,213,000. BP PLC bought a new position in Occidental Petroleum during the 2nd quarter valued at $5,210,000. Federated Investors Inc. PA lifted its stake in Occidental Petroleum by 18.0% during the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after acquiring an additional 1,152,152 shares in the last quarter. BB&T Securities LLC lifted its stake in Occidental Petroleum by 71.1% during the 2nd quarter. BB&T Securities LLC now owns 452,611 shares of the oil and gas producer’s stock valued at $27,097,000 after acquiring an additional 188,009 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Occidental Petroleum by 72.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 847,287 shares of the oil and gas producer’s stock valued at $50,831,000 after acquiring an additional 356,351 shares in the last quarter. Institutional investors and hedge funds own 80.34% of the company’s stock.

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Occidental Petroleum Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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