Occidental Petroleum (OXY) – Research Analysts’ Recent Ratings Updates

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

  • 11/29/2018 – Occidental Petroleum is now covered by analysts at Cowen Inc. They set a “market perform” rating and a $80.00 price target on the stock.
  • 11/26/2018 – Occidental Petroleum had its “buy” rating reaffirmed by analysts at Argus. They now have a $97.00 price target on the stock.
  • 11/21/2018 – Occidental Petroleum was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “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 a stable cash flow and its Chemical plant will further improve the same. However,  in last 12 months Occidental Petroleum's shares have underperformed its industry. 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. Stringent federal and state laws are tailwinds for the company.”
  • 11/20/2018 – Occidental Petroleum had its price target lowered by analysts at Morgan Stanley from $96.00 to $88.00. They now have a “buy” rating on the stock.
  • 11/14/2018 – Occidental Petroleum had its “neutral” rating reaffirmed by analysts at BMO Capital Markets.
  • 11/14/2018 – Occidental Petroleum was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. They now have a $81.00 price target on the stock. According to Zacks, “In the past 12 months, shares of Occidental Petroleum have surpassed the rise of Zacks S&P 500 Composite group. Occidental Petroleum’s third-quarter earnings and revenues surpassed the Zacks Consensus Estimate. This upside was primarily driven by an increased output from Permian Resources coupled with revenue growth from Midstream & Marketing segment. 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 a stable cash flow and its Chemical plant will further improve the same. However, 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. Stringent federal and state laws are tailwinds for the company”
  • 11/14/2018 – Occidental Petroleum had its price target lowered by analysts at Citigroup Inc from $97.00 to $95.00. They now have a “buy” rating on the stock.
  • 11/12/2018 – Occidental Petroleum is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $84.00 price target on the stock.
  • 11/10/2018 – Occidental Petroleum was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 11/7/2018 – Occidental Petroleum was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating. They now have a $88.00 price target on the stock.
  • 11/5/2018 – Occidental Petroleum had its price target lowered by analysts at Morgan Stanley from $100.00 to $96.00. They now have a “buy” rating on the stock.
  • 11/2/2018 – Occidental Petroleum was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/22/2018 – Occidental Petroleum was upgraded by analysts at Raymond James from an “outperform” rating to a “strong-buy” rating. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 10/16/2018 – Occidental Petroleum had its price target lowered by analysts at Mitsubishi UFJ Financial Group to $92.00. They now have a “neutral” rating on the stock.
  • 10/12/2018 – Occidental Petroleum was given a new $101.00 price target on by analysts at Morgan Stanley. They now have a “buy” rating on the stock.
  • 10/10/2018 – Occidental Petroleum was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $92.00 price target on the stock. According to Zacks, “In the last 12 months, shares of Occidental Petroleum have outperformed the return of Zacks S&P 500 Composite group. 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 a stable cash flow and its Chemical plant will further improve the same. However, 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. Stringent federal and state laws are tailwinds for the company.”

OXY stock opened at $71.32 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $53.06 billion, a price-to-earnings ratio of 80.13, a P/E/G ratio of 2.27 and a beta of 0.82. Occidental Petroleum Co. has a 1 year low of $62.47 and a 1 year high of $87.67.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.26. The company had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $4.60 billion. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The firm’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same period last year, the business posted $0.18 earnings per share. As a group, analysts predict that Occidental Petroleum Co. will post 5.17 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 10th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Friday, December 7th. Occidental Petroleum’s dividend payout ratio is currently 350.56%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Great Lakes Advisors LLC raised its stake in shares of Occidental Petroleum by 56.2% during the third quarter. Great Lakes Advisors LLC now owns 551,998 shares of the oil and gas producer’s stock valued at $45,358,000 after purchasing an additional 198,565 shares in the last quarter. Clearbridge Investments LLC raised its stake in shares of Occidental Petroleum by 2.5% during the third quarter. Clearbridge Investments LLC now owns 55,309 shares of the oil and gas producer’s stock valued at $4,545,000 after purchasing an additional 1,372 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Occidental Petroleum by 2.2% during the third quarter. Vanguard Group Inc. now owns 62,477,713 shares of the oil and gas producer’s stock valued at $5,133,793,000 after purchasing an additional 1,370,841 shares in the last quarter. Dodge & Cox raised its stake in shares of Occidental Petroleum by 58.7% during the third quarter. Dodge & Cox now owns 9,887,895 shares of the oil and gas producer’s stock valued at $812,488,000 after purchasing an additional 3,656,670 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Occidental Petroleum by 17.9% during the third quarter. Morgan Stanley now owns 8,169,766 shares of the oil and gas producer’s stock valued at $671,310,000 after purchasing an additional 1,238,365 shares in the last quarter. Institutional investors and hedge funds own 81.63% 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.

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