Occidental Petroleum (NYSE:OXY) Price Target Lowered to $70.00 at Mizuho

Occidental Petroleum (NYSE:OXY) had its price objective trimmed by Mizuho from $72.00 to $70.00 in a report published on Monday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Other equities research analysts have also issued reports about the company. UBS Group dropped their price target on Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Jefferies Financial Group increased their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company decreased their price target on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Susquehanna cut their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research report on Thursday, November 14th. Finally, Evercore ISI cut their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $62.65.

Occidental Petroleum Price Performance

OXY stock opened at $46.60 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The business has a 50 day simple moving average of $50.68 and a 200-day simple moving average of $55.37. The firm has a market capitalization of $43.72 billion, a PE ratio of 12.13 and a beta of 1.57. Occidental Petroleum has a 1 year low of $46.41 and a 1 year high of $71.18.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 1.89%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is 22.92%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OXY. Commerzbank Aktiengesellschaft FI increased its position in 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 during the period. Atria Wealth Solutions Inc. increased its holdings in shares of Occidental Petroleum by 0.6% in the second 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 period. Fifth Third Wealth Advisors LLC increased its holdings in shares of Occidental Petroleum by 157.5% in the second quarter. Fifth Third Wealth Advisors LLC now owns 10,868 shares of the oil and gas producer’s stock valued at $685,000 after purchasing an additional 6,647 shares during the period. Byrne Asset Management LLC increased its holdings in shares of Occidental Petroleum by 551.5% in the second quarter. Byrne Asset Management LLC now owns 2,469 shares of the oil and gas producer’s stock valued at $154,000 after purchasing an additional 2,090 shares during the period. Finally, Shelton Wealth Management LLC increased its holdings in shares of Occidental Petroleum by 39.0% in the second quarter. Shelton Wealth Management LLC now owns 15,069 shares of the oil and gas producer’s stock valued at $950,000 after purchasing an additional 4,225 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.