Occidental Petroleum Co. (NYSE:OXY) Given Average Recommendation of “Hold” by Brokerages

Shares of Occidental Petroleum Co. (NYSE:OXY) have been given an average recommendation of “Hold” by the twenty ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $62.75.

OXY has been the topic of several research reports. Barclays cut their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Truist Financial dropped their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Jefferies Financial Group raised their price objective on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Wolfe Research raised their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Mizuho dropped their price objective 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its holdings in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Occidental Petroleum in the 3rd quarter valued at $32,000. LRI Investments LLC raised its holdings in shares of Occidental Petroleum by 34.6% during the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock worth $57,000 after acquiring an additional 233 shares during the period. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum during the 3rd quarter worth $50,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter worth $87,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Price Performance

Shares of NYSE:OXY opened at $47.64 on Friday. Occidental Petroleum has a twelve month low of $47.20 and a twelve month high of $71.18. The company’s 50 day moving average is $51.03 and its 200 day moving average is $55.66. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The company has a market cap of $44.70 billion, a PE ratio of 12.40 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.85%. Occidental Petroleum’s 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.