Investment Analysts’ Weekly Ratings Changes for Occidental Petroleum (OXY)

Occidental Petroleum (NYSE: OXY) has recently received a number of price target changes and ratings updates:

  • 3/13/2018 – Occidental Petroleum was downgraded by analysts at Zacks Investment Research from a “strong-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 fundamental strength of the company will help it overcome the adverse impact from natural disasters. The company generates stable cash flow and its Chemical plant will further improve its cash flow. Shares of Occidental Petroleum have underperformed the industry’s rally in the last six months. 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, property or border disputes and equipment failures.”
  • 3/7/2018 – Occidental Petroleum is now covered by analysts at UBS. They set a “neutral” rating and a $71.00 price target on the stock.
  • 3/1/2018 – Occidental Petroleum was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 2/27/2018 – Occidental Petroleum had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $75.00 price target on the stock.
  • 2/15/2018 – Occidental Petroleum had its price target raised by analysts at JPMorgan Chase & Co. from $74.00 to $75.00. They now have a “neutral” rating on the stock.
  • 1/24/2018 – Occidental Petroleum had its price target raised by analysts at Morgan Stanley from $66.00 to $84.00. They now have an “equal weight” rating on the stock.
  • 1/22/2018 – Occidental Petroleum was upgraded by analysts at Citigroup from a “sell” rating to a “neutral” rating. They now have a $73.00 price target on the stock.
  • 1/18/2018 – Occidental Petroleum was given a new $85.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.

Shares of Occidental Petroleum stock traded down $0.80 during trading hours on Monday, hitting $63.65. 4,638,153 shares of the company’s stock were exchanged, compared to its average volume of 4,815,817. Occidental Petroleum has a 1 year low of $57.20 and a 1 year high of $78.09. The firm has a market cap of $49,313.83, a price-to-earnings ratio of 37.22, a PEG ratio of 3.80 and a beta of 0.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.12.

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Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.41. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same quarter in the prior year, the business posted ($0.13) EPS. analysts forecast that Occidental Petroleum will post 2.61 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.84%. Occidental Petroleum’s payout ratio is presently 180.12%.

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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