Occidental Petroleum (NYSE:OXY) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Occidental Petroleum (NYSE:OXY) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

Other analysts also recently issued research reports about the stock. Wolfe Research increased their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Stephens lifted their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. UBS Group cut their price objective on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. Mizuho dropped their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Barclays reduced their price target on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.70.

Occidental Petroleum Trading Up 0.7 %

NYSE:OXY opened at $51.91 on Tuesday. The business’s 50-day moving average is $51.79 and its two-hundred day moving average is $57.02. The firm has a market capitalization of $48.71 billion, a PE ratio of 13.52 and a beta of 1.58. Occidental Petroleum has a 12 month low of $48.42 and a 12 month high of $71.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76.

Occidental Petroleum Announces Dividend

The business 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 $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 1.70%. Occidental Petroleum’s payout ratio is currently 22.92%.

Institutional Trading of Occidental Petroleum

Several hedge funds have recently made changes to their positions in the stock. Stephens Inc. AR lifted its stake in Occidental Petroleum by 221.0% in the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after buying an additional 10,382 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Occidental Petroleum by 1.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock valued at $76,385,000 after purchasing an additional 22,920 shares during the period. Czech National Bank grew its position in Occidental Petroleum by 8.3% in the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after purchasing an additional 10,456 shares during the last quarter. Discovery Capital Management LLC CT acquired a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $10,331,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Occidental Petroleum by 15.2% during the third quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock valued at $11,440,000 after buying an additional 29,344 shares during the last quarter. Institutional investors 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.