Mizuho Cuts Occidental Petroleum (NYSE:OXY) Price Target to $72.00

Occidental Petroleum (NYSE:OXY) had its target price cut by Mizuho from $76.00 to $72.00 in a research note released on Monday, Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

A number of other brokerages also recently commented on OXY. Susquehanna reduced their price objective on shares of Occidental Petroleum from $81.00 to $78.00 and set a positive rating for the company in a research note on Wednesday, September 4th. Scotiabank reduced their price target on Occidental Petroleum from $90.00 to $80.00 and set a sector outperform rating for the company in a research report on Friday, July 12th. UBS Group raised their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the company a neutral rating in a research report on Tuesday, August 20th. Stephens reissued an overweight rating and set a $76.00 price target on shares of Occidental Petroleum in a research report on Thursday, August 8th. Finally, Wolfe Research began coverage on shares of Occidental Petroleum in a research report on Thursday, July 18th. They issued 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 stock. According to data from MarketBeat, Occidental Petroleum currently has an average rating of Hold and an average target price of $71.60.

Occidental Petroleum Trading Down 0.6 %

Shares of NYSE OXY opened at $51.77 on Monday. 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 business has a fifty day simple moving average of $57.29 and a two-hundred day simple moving average of $61.38. The firm has a market cap of $46.88 billion, a PE ratio of 14.14 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data 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. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The company had revenue of $6.88 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the firm earned $0.68 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts expect that Occidental Petroleum will post 3.71 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Buying and Selling

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Occidental Petroleum

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Advocates Investment Management grew its position in Occidental Petroleum by 15.1% during the 4th quarter. Financial Advocates Investment Management now owns 7,975 shares of the oil and gas producer’s stock worth $476,000 after purchasing an additional 1,047 shares during the period. ING Groep NV raised its position in Occidental Petroleum by 6,191.4% during the fourth quarter. ING Groep NV now owns 90,533 shares of the oil and gas producer’s stock valued at $5,406,000 after acquiring an additional 89,094 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in Occidental Petroleum by 100.7% in the fourth quarter. Coldstream Capital Management Inc. now owns 15,083 shares of the oil and gas producer’s stock valued at $901,000 after acquiring an additional 7,568 shares during the period. Quest Partners LLC purchased a new stake in Occidental Petroleum in the 4th quarter worth approximately $670,000. Finally, InterOcean Capital Group LLC increased its holdings in shares of Occidental Petroleum by 5.3% during the 4th quarter. InterOcean Capital Group LLC now owns 11,001 shares of the oil and gas producer’s stock valued at $657,000 after purchasing an additional 555 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

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.