Occidental Petroleum (NYSE:OXY) Hits New 12-Month Low - What's Next?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $47.23 and last traded at $47.28, with a volume of 3572845 shares traded. The stock had previously closed at $48.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a "neutral" rating and a $55.00 price objective on the stock. Wells Fargo & Company cut their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Friday, September 27th. UBS Group decreased their target price on shares of Occidental Petroleum from $59.00 to $58.00 and set a "neutral" rating for the company in a research report on Monday, November 18th. Jefferies Financial Group raised their target price on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. Finally, Susquehanna reduced their price target on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $63.25.

Occidental Petroleum Stock Down 1.9 %

The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The business's 50-day simple moving average is $51.49 and its 200-day simple moving average is $56.17. The company has a market capitalization of $44.61 billion, a PE ratio of 12.38 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.85%. Occidental Petroleum's dividend payout ratio is presently 22.92%.

Institutional Investors Weigh In On Occidental Petroleum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Fortitude Family Office LLC grew its holdings in 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 acquiring an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at approximately $50,000. Strategic Financial Concepts LLC acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at $53,000. Finally, LRI Investments LLC boosted its holdings 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 worth $57,000 after buying an additional 233 shares in the last quarter. 88.70% of the stock is owned by institutional investors and hedge funds.

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.