Occidental Petroleum (NYSE:OXY) Shares Up 0.7% - Time to Buy?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) was up 0.7% on Friday . The stock traded as high as $50.77 and last traded at $50.67. Approximately 1,376,457 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 9,348,053 shares. The stock had previously closed at $50.32.

Analyst Ratings Changes

OXY has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an "equal weight" rating for the company in a report on Friday, September 27th. Bank of America started coverage on Occidental Petroleum in a report on Thursday, October 17th. They issued a "neutral" rating and a $57.00 price objective for the company. Susquehanna reduced their target price on Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a report on Thursday, November 14th. Citigroup lowered their price target on Occidental Petroleum from $57.00 to $56.00 and set a "neutral" rating for the company in a research note on Tuesday. Finally, The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a "neutral" rating and a $55.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $63.25.

Occidental Petroleum Stock Up 0.6 %

The firm's 50 day moving average price is $51.64 and its two-hundred day moving average price is $56.54. 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 company has a market capitalization of $47.48 billion, a P/E ratio of 13.18 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.74%. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OXY. B. Riley Wealth Advisors Inc. increased its stake in shares of Occidental Petroleum by 16.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 20,084 shares of the oil and gas producer's stock worth $1,306,000 after purchasing an additional 2,780 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in Occidental Petroleum by 16.9% during the first quarter. Citizens Financial Group Inc. RI now owns 4,245 shares of the oil and gas producer's stock worth $276,000 after buying an additional 614 shares during the last quarter. LRI Investments LLC bought a new stake in Occidental Petroleum in the first quarter valued at approximately $44,000. Swedbank AB acquired a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $12,547,000. Finally, Atria Investments Inc boosted its stake in shares of Occidental Petroleum by 4.2% during the 1st quarter. Atria Investments Inc now owns 91,676 shares of the oil and gas producer's stock worth $5,957,000 after acquiring an additional 3,674 shares during the period. 88.70% of the stock is currently owned by institutional investors.

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.