Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) rose 0.3% during trading on Thursday after Stephens raised their price target on the stock from $70.00 to $71.00. Stephens currently has an overweight rating on the stock. Occidental Petroleum traded as high as $52.30 and last traded at $51.25. Approximately 3,991,323 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 9,310,466 shares. The stock had previously closed at $51.12.
Other analysts also recently issued reports about the stock. Bank of America initiated coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They set a "neutral" rating and a $57.00 target price on the stock. UBS Group dropped their price target on shares of Occidental Petroleum from $70.00 to $59.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 18th. Raymond James dropped their price target on shares of Occidental Petroleum from $85.00 to $77.00 and set a "buy" rating on the stock in a research note on Tuesday. Mizuho dropped their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Finally, The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a "neutral" rating and a $55.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Occidental Petroleum currently has an average rating of "Hold" and a consensus price target of $63.70.
Get Our Latest Analysis on OXY
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Earnest Partners LLC raised its position in Occidental Petroleum by 2.6% in the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer's stock worth $445,000 after purchasing an additional 173 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased 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 worth $573,000 after buying an additional 175 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of 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. increased its holdings in shares of Occidental Petroleum by 1.0% during 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 buying an additional 182 shares in the last quarter. Finally, Gateway Advisory LLC increased its holdings 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 worth $306,000 after buying an additional 184 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company's stock.
Occidental Petroleum Trading Down 0.9 %
The company has a market cap of $45.89 billion, a price-to-earnings ratio of 13.35 and a beta of 1.58. The company's fifty day moving average price is $51.90 and its two-hundred day moving average price is $57.67. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.
Occidental Petroleum Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. Occidental Petroleum's dividend payout ratio (DPR) is currently 22.92%.
About Occidental Petroleum
(
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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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