Brokers Change Their Target Price On Occidental Petroleum Corporation (NYSE:OXY)

Xavier Trudeau
Mai 19, 2017

The brokerage now has a $80.00 price target on the oil and gas producer's stock, down from their prior price target of $83.00. BMO Capital Markets set a $65.00 price target on Occidental Petroleum and gave the company a hold rating in a research note on Thursday, May 4th. The 52-week range of the share price is from $57.20 - $78.48. On Tuesday, March 14 the stock rating was upgraded by Credit Suisse to "Outperform". Scotiabank reissued a "hold" rating on shares of Occidental Petroleum in a research note on Friday, February 10th.

According to the the latest analyst ratings which have been released, 3 brokers have issued a rating of "buy", 4 brokers "outperform", 17 brokers "hold", 1 brokers "underperform" and 0 brokers "sell". The stock has "Hold" rating by BMO Capital Markets on Friday, May 5.

On the close of 05/16/2017 Occidental Petroleum Corporation (NYSE:OXY) dropped -1.27% to hit $60.53. A total of 2.77 million shares exchanged hands as contrast to its average trading volume of 2.08 million shares.

Occidental Petroleum Corporation (OXY) has a market capitalization of 47.03 Billion while its Major Index membership is at S&P 500.

Taking a broader look brokerage firms' analysts on the street with an expectant view have Occidental Petroleum Corp (NYSE:OXY) high price target of $87 and with a conservative view have low price target of $50. California-based Kcm Investment Advsrs Limited Liability Co has invested 0.46% in Occidental Petroleum Corporation (NYSE:OXY). The oil and gas producer reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The company is set at a mean analysts' recommendation of 2.60.

While looking at the SMA values of Occidental Petroleum Corporation (OXY), the 200 simple moving average (SMA) is considered a key indicator by traders and market analysts for determining the overall long-term trend.

According to analysts Occidental Petroleum Corp (NYSE:OXY)'s minimum EPS for the current quarter is at $-0.15 and can go high up to $0.33. Equities research analysts anticipate that Occidental Petroleum will post $1.00 earnings per share for the current fiscal year. The stock of Occidental Petroleum Corporation (NYSE:OXY) earned "Hold" rating by Jefferies on Tuesday, January 12. If you are reading this article on another publication, it was illegally stolen and republished in violation of USA & global copyright & trademark legislation.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 9th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $3.04 annualized dividend and a dividend yield of 5.04%.

By historical standards, Occidental Petroleum Corporation remains a cheap stock.

In other news, insider Vicki A. Hollub bought 15,000 shares of the firm's stock in a transaction that occurred on Monday, March 13th. Following the transaction, the insider now directly owns 76,018 shares of the company's stock, valued at approximately $4,767,848.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. CHAZEN STEPHEN I sold $261,960 worth of stock. It fall, as 66 investors sold Occidental Petroleum Corporation shares while 349 reduced holdings. The disclosure for this sale can be found here. The company is expected to report EPS as high as $0.33 and as low as $-0.15 per share. Patriot Wealth Management Inc.'s holdings in Occidental Petroleum were worth $3,244,000 as of its most recent SEC filing. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Occidental Petroleum during the first quarter worth $102,000. Enterprise Financial Services Corp raised its position in shares of Occidental Petroleum by 36.3% in the third quarter. The ratio turned negative, as 427 funds increased and opened new holdings, while 415 cut down and sold positions in Occidental Petroleum Corp. Univest Corp of Pennsylvania now owns 35,471 shares of the oil and gas producer's stock valued at $2,587,000 after buying an additional 204 shares during the period. BlackRock Inc. increased its stake in shares of Occidental Petroleum by 3,198.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,815 shares of the oil and gas producer's stock worth $132,000 after buying an additional 75 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Occidental Petroleum by 0.8% in the first quarter. Currently Occidental Petroleum Corporation (OXY) has beta value of 0.71. The Fund invests approximately 80% of its total assets in a combination of corporate debt obligations of varying maturities, other corporate income-producing securities, and income-producing securities of non-corporate issuers, such as the United States Government securities, municipal securities, and mortgage-backed and other asset-backed securities issued on a public or private basis.

Over the short term, some market observers may have noticed that Occidental Petroleum Corporation has a 2.20% short float with 15 days to cover. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing.

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