Occidental Petroleum (NYSE:OXY) Stock Price Expected to Rise, Stephens Analyst Says

Occidental Petroleum (NYSE:OXY) had its price target raised by Stephens from $70.00 to $71.00 in a report published on Wednesday morning,Benzinga reports. Stephens currently has an overweight rating on the oil and gas producer’s stock.

A number of other research analysts have also commented on the stock. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective for the company. Jefferies Financial Group boosted their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Barclays decreased their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. UBS Group reduced their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, Evercore ISI dropped their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $63.70.

Occidental Petroleum Stock Down 1.4 %

OXY stock opened at $49.97 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.75. The company has a 50-day moving average of $51.80 and a two-hundred day moving average of $57.43. The stock has a market capitalization of $46.89 billion, a price-to-earnings ratio of 13.01 and a beta of 1.58. Occidental Petroleum has a 52-week low of $48.42 and a 52-week high of $71.18.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.76%. Occidental Petroleum’s dividend payout ratio is 22.92%.

Institutional Trading of Occidental Petroleum

Hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC lifted its holdings in shares of Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum in the 3rd quarter valued at about $32,000. New Covenant Trust Company N.A. acquired a new position in shares of Occidental Petroleum during the 1st quarter worth approximately $44,000. LRI Investments LLC bought a new position in shares of Occidental Petroleum during the first quarter worth approximately $44,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $50,000. Institutional investors and hedge funds own 88.70% 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, 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.