Occidental Petroleum Co. (NYSE:OXY - Free Report) - Analysts at Capital One Financial decreased their FY2024 earnings per share (EPS) estimates for Occidental Petroleum in a research report issued on Thursday, January 16th. Capital One Financial analyst B. Velie now forecasts that the oil and gas producer will earn $3.26 per share for the year, down from their previous estimate of $3.27. The consensus estimate for Occidental Petroleum's current full-year earnings is $3.32 per share.
Other equities analysts have also issued research reports about the stock. Barclays dropped their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research report on Thursday, October 3rd. Raymond James increased their target price on Occidental Petroleum from $77.00 to $78.00 and gave the stock a "strong-buy" rating in a research report on Thursday, November 21st. TD Cowen dropped their price target on Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating for the company in a research note on Tuesday, November 12th. Bank of America began coverage on Occidental Petroleum in a research note on Thursday, October 17th. They issued a "neutral" rating and a $57.00 price objective on the stock. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $62.19.
Check Out Our Latest Report on OXY
NYSE OXY opened at $51.98 on Monday. The company has a 50-day moving average of $49.70 and a 200-day moving average of $53.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum has a 12 month low of $45.17 and a 12 month high of $71.18. The company has a market cap of $48.78 billion, a P/E ratio of 13.54 and a beta of 1.57.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Certified Advisory Corp bought a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $476,000. Rule One Partners LLC bought a new stake in Occidental Petroleum during the third quarter valued at $14,199,000. Stephens Inc. AR raised its holdings in shares of Occidental Petroleum by 221.0% during the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer's stock worth $777,000 after purchasing an additional 10,382 shares during the period. Weiss Asset Management LP bought a new position in shares of Occidental Petroleum in the 3rd quarter worth about $2,509,000. Finally, Cerity Partners LLC boosted its holdings in shares of Occidental Petroleum by 27.7% in the 3rd quarter. Cerity Partners LLC now owns 70,580 shares of the oil and gas producer's stock valued at $3,638,000 after buying an additional 15,316 shares during the period. 88.70% of the stock is owned by institutional investors.
In related news, major shareholder Berkshire Hathaway Inc bought 3,614,015 shares of the business's stock in a transaction dated Thursday, December 19th. The shares were acquired at an average price of $45.60 per share, for a total transaction of $164,799,084.00. Following the purchase, the insider now owns 264,178,414 shares in the company, valued at $12,046,535,678.40. This trade represents a 1.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by corporate insiders.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.69%. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.92%.
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.
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