Occidental Petroleum (NYSE:OXY) Trading 0.9% Higher - What's Next?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) rose 0.9% during mid-day trading on Thursday . The stock traded as high as $50.69 and last traded at $50.32. Approximately 6,828,027 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 9,383,212 shares. The stock had previously closed at $49.85.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OXY shares. Evercore ISI reduced their price objective on Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating for the company in a research note on Monday, September 30th. Stephens increased their price objective on Occidental Petroleum from $70.00 to $71.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. TD Cowen dropped their target price on Occidental Petroleum from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Susquehanna decreased their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a "positive" rating for the company in a report on Thursday, November 14th. Finally, Mizuho dropped their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $63.25.

Occidental Petroleum Trading Up 0.9 %

The stock has a market capitalization of $47.22 billion, a price-to-earnings ratio of 13.10 and a beta of 1.58. The business has a fifty day simple moving average of $51.66 and a 200 day simple moving average of $56.63. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 22.92%.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds have recently added to or reduced their stakes in OXY. Geode Capital Management LLC increased its position in shares of Occidental Petroleum by 3.3% in the third quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer's stock worth $710,886,000 after purchasing an additional 444,850 shares during the period. H&H International Investment LLC raised its position in shares of Occidental Petroleum by 497.7% in 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 buying an additional 7,680,598 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Occidental Petroleum by 2.5% during 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 acquiring an additional 98,703 shares during the period. American Century Companies Inc. boosted its position in shares of 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 worth $233,687,000 after acquiring an additional 532,318 shares in the last quarter. Finally, Swiss National Bank raised its position in 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 purchasing an additional 5,200 shares in the last quarter. Institutional investors own 88.70% of the company's stock.

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.