Occidental Petroleum Co. (NYSE:OXY) Given Average Recommendation of "Hold" by Analysts

Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) have been given an average rating of "Hold" by the twenty ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $62.75.

OXY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. Barclays reduced their target price on 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. Citigroup reduced their price objective on Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating on the stock in a research report on Tuesday, November 26th. Wolfe Research boosted their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Finally, Susquehanna reduced their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research report on Thursday, November 14th.

Occidental Petroleum Price Performance

Shares of OXY stock traded down $0.55 on Friday, reaching $47.64. The company's stock had a trading volume of 10,414,890 shares, compared to its average volume of 9,408,375. The company has a market capitalization of $44.70 billion, a P/E ratio of 12.41 and a beta of 1.57. Occidental Petroleum has a 12-month low of $47.20 and a 12-month high of $71.18. The stock's 50 day simple moving average is $50.87 and its 200-day simple moving average is $55.52. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum's payout ratio is currently 22.92%.

Institutional Investors Weigh In On Occidental Petroleum

A number of large investors have recently modified their holdings of the stock. Fortitude Family Office LLC lifted its holdings in Occidental Petroleum by 160.0% in 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 during the period. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. purchased a new stake in Occidental Petroleum in the third quarter worth $50,000. Strategic Financial Concepts LLC bought a new position in Occidental Petroleum in the second quarter worth $53,000. Finally, LRI Investments LLC lifted its position in Occidental Petroleum by 34.6% during the second quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer's stock valued at $57,000 after buying an additional 233 shares during the period. Institutional investors own 88.70% of the company's stock.

About Occidental Petroleum

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.