Occidental Petroleum Co. (NYSE:OXY – Get Free Report)’s share price reached a new 52-week low on Wednesday after Raymond James lowered their price target on the stock from $85.00 to $77.00. Raymond James currently has a buy rating on the stock. Occidental Petroleum traded as low as $49.18 and last traded at $49.19, with a volume of 2496936 shares traded. The stock had previously closed at $50.29.
OXY has been the subject of several other reports. Barclays lowered their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Bank of America started coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They set a “neutral” rating and a $57.00 price objective on the stock. Scotiabank cut their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets lowered their target price on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Finally, The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.30.
Check Out Our Latest Report on Occidental Petroleum
Hedge Funds Weigh In On Occidental Petroleum
Occidental Petroleum Stock Performance
The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The stock has a market cap of $46.30 billion, a price-to-earnings ratio of 13.31 and a beta of 1.58. The stock has a fifty day simple moving average of $51.97 and a two-hundred day simple moving average of $57.72.
Occidental Petroleum Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is 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.
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