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Thursday, July 2, 2015

Occidental Petroleum Given Average Recommendation of “Hold” by Brokerages (NYSE:OXY)

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July 02:

Occidental Petroleum (NYSE:OXY) has earned a consensus rating of “Hold” from the twenty-one brokerages that are presently covering the company, AnalystRatings.Net reports. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $85.14.

Shares of Occidental Petroleum (NYSE:OXY) traded up 0.37% during mid-day trading on Thursday, hitting $76.23. 900,040 shares of the company’s stock traded hands. Occidental Petroleum has a 52 week low of $71.70 and a 52 week high of $100.27. The stock has a 50-day moving average of $77.83 and a 200-day moving average of $78.02. The company’s market cap is $58.55 billion.

Occidental Petroleum (NYSE:OXY) last released its earnings data on Wednesday, May 6th. The company reported $0.04 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.04. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the prior year, the company posted $1.75 earnings per share. The company’s quarterly revenue was down 37.8% on a year-over-year basis. Analysts expect that Occidental Petroleum will post $1.19 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Monday, June 8th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.72.

A number of research firms have recently commented on OXY. Analysts at Argus lowered their price target on shares of Occidental Petroleum from $93.00 to $88.00 and set a “buy” rating on the stock in a research note on Wednesday, June 17th. Analysts at Oppenheimer reiterated an “outperform” rating and set a $95.00 price target on shares of Occidental Petroleum in a research note on Wednesday, June 3rd. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Occidental Petroleum in a research note on Monday, June 1st. Analysts at Bank of America reiterated a “top pick” rating and set a $78.19 price target (down previously from $101.00) on shares of Occidental Petroleum in a research note on Monday, June 1st. Finally, analysts at Deutsche Bank upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and raised their price target for the stock from $81.00 to $90.00 in a research note on Monday, June 1st.

In other Occidental Petroleum news, Director John E. Feick sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $79.07, for a total value of $790,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Occidental Petroleum Corporation (NYSE:OXY) is engaged in the oil and gas exploration and production. The Company, through its subsidiaries and affliates, operates in the United States, Middle East/North Africa and Latin America. Occidental operates through three segments. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGL) and natural gas. The chemical (OxyChem) segment manufactures and markets basic chemicals and vinyls. The midstream, marketing and other segment (midstream and marketing) gathers, processes, transports, stores, purchases and markets oil, condensate, NGLs, natural gas, carbon dioxide (CO2) and power. It also trades around its assets, including transportation and storage capacity, and trades oil, NGLs, gas and other commodities.

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