Occidental Petroleum (NYSE:OXY) PT Lowered to $72.00 at Mizuho

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

A number of other research analysts have also issued reports on the stock. Susquehanna lowered their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a positive rating on the stock in a research note on Wednesday, September 4th. Scotiabank dropped their price objective on Occidental Petroleum from $90.00 to $80.00 and set a sector outperform rating on the stock in a research note on Friday, July 12th. Wolfe Research initiated coverage on Occidental Petroleum in a research note on Thursday, July 18th. They set an outperform rating and a $81.00 target price for the company. Truist Financial dropped their price target on Occidental Petroleum from $67.00 to $65.00 and set a hold rating on the stock in a research report on Monday, August 12th. Finally, Stephens reissued an overweight rating and issued a $76.00 price objective on shares of Occidental Petroleum in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum has a consensus rating of Hold and an average target price of $71.60.

Occidental Petroleum Stock Performance

Shares of OXY opened at $52.03 on Monday. The company has a 50-day moving average of $57.10 and a two-hundred day moving average of $61.32. The stock has a market cap of $47.12 billion, a price-to-earnings ratio of 14.22 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. Occidental Petroleum has a one year low of $49.90 and a one year high of $71.18.

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, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm had revenue of $6.88 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts expect that Occidental Petroleum will post 3.71 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 24.04%.

Insider Transactions at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OXY. Berkshire Hathaway Inc boosted its position in shares of Occidental Petroleum by 8.7% in the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after acquiring an additional 19,586,612 shares during the period. American Century Companies Inc. boosted its holdings in Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after purchasing an additional 532,318 shares during the period. Epoch Investment Partners Inc. grew its position in shares of Occidental Petroleum by 20.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,661,231 shares of the oil and gas producer’s stock worth $104,707,000 after purchasing an additional 277,462 shares in the last quarter. Himalaya Capital Management LLC bought a new position in shares of Occidental Petroleum during the second quarter worth approximately $92,433,000. Finally, Cooke & Bieler LP raised its position in shares of Occidental Petroleum by 53.1% in the second quarter. Cooke & Bieler LP now owns 1,450,064 shares of the oil and gas producer’s stock valued at $91,398,000 after buying an additional 503,173 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

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.