Capital One upgraded shares of Occidental Petroleum (NYSE:OXY) from an equal weight rating to an overweight rating in a research note released on Tuesday morning, Marketbeat Ratings reports. Capital One also issued estimates for Occidental Petroleum’s Q2 2018 earnings at $1.08 EPS, Q3 2018 earnings at $1.14 EPS, Q4 2018 earnings at $1.08 EPS, FY2018 earnings at $4.22 EPS and FY2019 earnings at $4.95 EPS.

Several other equities analysts also recently issued reports on OXY. Zacks Investment Research raised shares of Occidental Petroleum from a hold rating to a buy rating and set a $94.00 price target for the company in a report on Monday, May 14th. TheStreet raised shares of Occidental Petroleum from a c+ rating to a b rating in a report on Tuesday, May 8th. Credit Suisse Group boosted their price target on shares of Occidental Petroleum from $76.00 to $80.00 and gave the company a neutral rating in a report on Wednesday, May 9th. Scotiabank raised shares of Occidental Petroleum from a sector perform rating to an outperform rating in a report on Monday, May 21st. Finally, Bank of America raised shares of Occidental Petroleum from a neutral rating to a buy rating and set a $100.00 price objective for the company in a report on Thursday, May 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $77.47.

Shares of Occidental Petroleum opened at $84.20 on Tuesday, according to Marketbeat Ratings. Occidental Petroleum has a 1 year low of $57.84 and a 1 year high of $86.38. The firm has a market cap of $62.66 billion, a PE ratio of 94.61, a PEG ratio of 3.14 and a beta of 0.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.26 and a quick ratio of 1.11.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.21. Occidental Petroleum had a net margin of 13.47% and a return on equity of 6.15%. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 28.4% compared to the same quarter last year. analysts anticipate that Occidental Petroleum will post 4.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, June 11th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, June 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 346.07%.

A number of institutional investors have recently modified their holdings of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Occidental Petroleum by 0.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 133,331 shares of the oil and gas producer’s stock worth $8,661,000 after acquiring an additional 716 shares in the last quarter. Maple Capital Management Inc. raised its position in Occidental Petroleum by 1.1% in the first quarter. Maple Capital Management Inc. now owns 68,356 shares of the oil and gas producer’s stock worth $4,440,000 after acquiring an additional 730 shares in the last quarter. Intrust Bank NA raised its position in Occidental Petroleum by 11.8% in the fourth quarter. Intrust Bank NA now owns 8,030 shares of the oil and gas producer’s stock worth $592,000 after acquiring an additional 850 shares in the last quarter. Wrapmanager Inc. raised its position in Occidental Petroleum by 3.2% in the first quarter. Wrapmanager Inc. now owns 28,053 shares of the oil and gas producer’s stock worth $1,822,000 after acquiring an additional 857 shares in the last quarter. Finally, State Treasurer State of Michigan raised its position in Occidental Petroleum by 0.4% in the first quarter. State Treasurer State of Michigan now owns 225,256 shares of the oil and gas producer’s stock worth $14,633,000 after acquiring an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 80.72% 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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

Analyst Recommendations for Occidental Petroleum (NYSE:OXY)

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.