Occidental Petroleum Co. (NYSE:OXY) Receives $63.65 Consensus Target Price from Brokerages

Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) have earned a consensus rating of "Hold" from the twenty ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $63.65.

Several equities analysts have recently issued reports on OXY shares. TD Cowen reduced their target price on Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Susquehanna decreased their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating for the company in a report on Thursday, November 14th. Barclays reduced 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 report on Thursday, October 3rd. Evercore ISI lowered their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating for the company in a report on Monday, September 30th. Finally, Scotiabank decreased their price objective on Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th.

Occidental Petroleum Trading Down 0.8 %

Shares of NYSE:OXY traded down $0.41 during midday trading on Tuesday, hitting $50.50. 8,030,892 shares of the stock traded hands, compared to its average volume of 9,384,176. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $47.39 billion, a PE ratio of 13.13 and a beta of 1.58. Occidental Petroleum has a one year low of $48.42 and a one year high of $71.18. The business's 50 day moving average is $51.77 and its two-hundred day moving average is $57.29.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.92%.

Institutional Investors Weigh In On Occidental Petroleum

A number of large investors have recently made changes to their positions in OXY. Fortitude Family Office LLC raised its position 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 acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. purchased a new position in Occidental Petroleum during the third quarter valued at $32,000. New Covenant Trust Company N.A. bought a new stake in Occidental Petroleum during the first quarter valued at about $44,000. LRI Investments LLC purchased a new stake in Occidental Petroleum in the first quarter worth about $44,000. Finally, Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $50,000. 88.70% of the stock is currently owned by institutional investors.

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.