Occidental Petroleum (NYSE:OXY) Shares Down 0.8% on Analyst Downgrade

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) was down 0.8% on Monday after Mizuho lowered their price target on the stock from $72.00 to $70.00. Mizuho currently has a neutral rating on the stock. Occidental Petroleum traded as low as $47.15 and last traded at $47.26. Approximately 2,292,569 shares changed hands during trading, a decline of 76% from the average daily volume of 9,376,886 shares. The stock had previously closed at $47.64.

Several other research analysts have also issued reports on OXY. Wells Fargo & Company cut their price target on Occidental Petroleum from $56.00 to $53.00 and set an "equal weight" rating on the stock in a report on Monday, December 9th. StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Tuesday, December 10th. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They set a "neutral" rating and a $55.00 price objective on the stock. TD Cowen decreased their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Finally, Scotiabank lowered their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $62.65.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Occidental Petroleum by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock valued at $710,886,000 after acquiring an additional 444,850 shares during the period. H&H International Investment LLC raised its stake in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer's stock valued at $475,389,000 after purchasing an additional 7,680,598 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Occidental Petroleum by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer's stock worth $206,560,000 after purchasing an additional 98,703 shares during the period. American Century Companies Inc. grew its holdings in Occidental Petroleum by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer's stock valued at $233,687,000 after buying an additional 532,318 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Occidental Petroleum by 0.3% during the third quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer's stock valued at $101,720,000 after buying an additional 5,200 shares during the period. Hedge funds and other institutional investors own 88.70% of the company's stock.

Occidental Petroleum Stock Performance

The business's fifty day moving average price is $50.68 and its 200-day moving average price is $55.37. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The stock has a market capitalization of $43.72 billion, a PE ratio of 12.13 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum's payout ratio is 22.92%.

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.