Occidental Petroleum (NYSE:OXY) Stock Price Down 1.5% Following Analyst Downgrade

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shares fell 1.5% during trading on Tuesday 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 $45.79 and last traded at $45.92. 4,001,508 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 9,403,368 shares. The stock had previously closed at $46.60.

Several other equities analysts have also recently issued reports on the stock. Barclays decreased their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an "equal weight" rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a "neutral" rating and a $55.00 target price for the company. Wolfe Research increased their price target on Occidental Petroleum from $73.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. TD Cowen cut their price objective 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. Finally, StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $62.65.

Institutional Trading of Occidental Petroleum

Several hedge funds have recently bought and sold shares of the business. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Occidental Petroleum by 2.0% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer's stock valued at $573,000 after buying an additional 175 shares during the last quarter. Atria Wealth Solutions Inc. boosted its stake in Occidental Petroleum by 0.6% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer's stock valued at $1,735,000 after purchasing an additional 176 shares during the last quarter. Raymond James Trust N.A. raised its stake 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 worth $1,109,000 after purchasing an additional 182 shares during the last quarter. Gateway Advisory LLC lifted its holdings in shares of Occidental Petroleum by 3.9% in 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. Finally, Joule Financial LLC boosted its position in shares of 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 valued at $497,000 after buying an additional 191 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Price Performance

The firm has a market cap of $43.69 billion, a P/E ratio of 11.96 and a beta of 1.57. The company has a fifty day moving average of $50.68 and a 200-day moving average of $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.

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 issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.89%. Occidental Petroleum's dividend payout ratio is currently 22.92%.

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.