Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shot up 0.5% during trading on Wednesday . The stock traded as high as $46.95 and last traded at $46.79. 2,457,780 shares were traded during trading, a decline of 74% from the average session volume of 9,427,367 shares. The stock had previously closed at $46.56.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on OXY shares. Bank of America assumed coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a "neutral" rating and a $57.00 price target on the stock. Susquehanna decreased their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating on the stock in a research note on Thursday, November 14th. Citigroup dropped 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, November 26th. UBS Group reduced their price objective on Occidental Petroleum from $58.00 to $51.00 and set a "neutral" rating on the stock in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $62.65.
Read Our Latest Analysis on OXY
Occidental Petroleum Price Performance
The business has a 50-day moving average of $50.53 and a 200 day moving average of $55.26. 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 firm has a market capitalization of $43.18 billion, a P/E ratio of 11.98 and a beta of 1.57.
Occidental Petroleum Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum's payout ratio is 22.92%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of OXY. Atria Wealth Solutions Inc. grew its holdings in Occidental Petroleum by 0.6% during the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer's stock worth $1,735,000 after buying an additional 176 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Occidental Petroleum by 1.0% in the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer's stock valued at $1,109,000 after purchasing an additional 182 shares during the last quarter. Gateway Advisory LLC lifted its position in shares of Occidental Petroleum by 3.9% during the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer's stock valued at $306,000 after purchasing an additional 184 shares in the last quarter. Joule Financial LLC boosted its holdings in Occidental Petroleum by 2.5% during the second quarter. Joule Financial LLC now owns 7,863 shares of the oil and gas producer's stock worth $497,000 after purchasing an additional 191 shares during the last quarter. Finally, Segment Wealth Management LLC grew its position in Occidental Petroleum by 5.2% in the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer's stock worth $205,000 after purchasing an additional 196 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.
Occidental Petroleum Company Profile
(
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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.
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