Occidental Petroleum (NYSE:OXY) Given New $72.00 Price Target at Mizuho

Occidental Petroleum (NYSE:OXY) had its target price decreased by Mizuho from $76.00 to $72.00 in a research report report published on Monday morning, Benzinga reports. Mizuho currently has a neutral rating on the oil and gas producer’s stock.

A number of other brokerages also recently commented on OXY. Susquehanna decreased their target price on Occidental Petroleum from $81.00 to $78.00 and set a positive rating for the company in a report on Wednesday, September 4th. Truist Financial decreased their price objective on shares of Occidental Petroleum from $67.00 to $65.00 and set a hold rating for the company in a report on Monday, August 12th. Wells Fargo & Company cut their target price on shares of Occidental Petroleum from $68.00 to $65.00 and set an equal weight rating on the stock in a research note on Friday, August 9th. Scotiabank decreased their price target on shares of 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, Wolfe Research began coverage on Occidental Petroleum in a research report on Thursday, July 18th. They set an outperform rating and a $81.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Occidental Petroleum presently has an average rating of Hold and a consensus price target of $72.33.

Occidental Petroleum Trading Up 0.5 %

Shares of OXY opened at $51.30 on Monday. The stock has a market capitalization of $46.45 billion, a P/E ratio of 14.02 and a beta of 1.58. Occidental Petroleum has a twelve month low of $49.90 and a twelve month high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The firm has a fifty day simple moving average of $57.66 and a two-hundred day simple moving average of $61.52.

Occidental Petroleum (NYSE:OXY) last posted its 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 company had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. Occidental Petroleum’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. On average, research analysts anticipate that Occidental Petroleum will post 3.71 EPS for the current year.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Buying and Selling at Occidental Petroleum

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 stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by company insiders.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds have recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. increased its holdings in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 167 shares in the last quarter. LifeSteps Financial Inc. purchased a new position in Occidental Petroleum in the 1st quarter worth about $34,000. Able Wealth Management LLC bought a new position in Occidental Petroleum during the 4th quarter valued at about $38,000. New Covenant Trust Company N.A. purchased a new stake in shares of Occidental Petroleum during the 1st quarter valued at about $44,000. Finally, LRI Investments LLC bought a new stake in shares of Occidental Petroleum in the first quarter worth approximately $44,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

About Occidental Petroleum

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.