Occidental Petroleum (NYSE:OXY) Earns Neutral Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum (NYSE:OXY) in a research note released on Wednesday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $55.00 price target on the oil and gas producer’s stock.

OXY has been the topic of several other reports. Truist Financial cut their price target on Occidental Petroleum from $65.00 to $56.00 and set a hold rating on the stock in a research report on Monday, September 30th. Scotiabank dropped their target price on Occidental Petroleum from $90.00 to $80.00 and set a sector outperform rating on the stock in a report on Friday, July 12th. StockNews.com raised Occidental Petroleum from a sell rating to a hold rating in a report on Friday, September 27th. Wells Fargo & Company dropped their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set an equal weight rating on the stock in a research note on Friday, September 27th. Finally, UBS Group decreased their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a neutral rating for the company in a research note on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $67.18.

Occidental Petroleum Trading Up 1.8 %

Occidental Petroleum stock opened at $55.76 on Wednesday. The stock has a 50-day moving average price of $55.08 and a 200 day moving average price of $60.62. The company has a market capitalization of $49.44 billion, a price-to-earnings ratio of 15.23 and a beta of 1.57. Occidental Petroleum has a 52 week low of $49.75 and a 52 week 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.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating the consensus estimate of $0.77 by $0.26. The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 EPS. Sell-side analysts anticipate that Occidental Petroleum will post 3.57 EPS for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.58%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 24.04%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the transaction, the insider now directly owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

Large investors have recently bought and sold shares of the business. CapWealth Advisors LLC boosted its holdings in shares of Occidental Petroleum by 2.7% during the 1st quarter. CapWealth Advisors LLC now owns 6,105 shares of the oil and gas producer’s stock worth $397,000 after purchasing an additional 162 shares during the last quarter. Meeder Advisory Services Inc. lifted its position in Occidental Petroleum by 2.0% during the first quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock worth $553,000 after buying an additional 164 shares in the last quarter. Investment Research & Advisory Group Inc. boosted its stake in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares during the last quarter. Earnest Partners LLC grew its holdings in Occidental Petroleum by 2.6% in the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after buying an additional 173 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its stake in shares of Occidental Petroleum by 0.8% in the 1st quarter. Proficio Capital Partners LLC now owns 20,911 shares of the oil and gas producer’s stock worth $1,359,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors 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.