Occidental Petroleum (NYSE:OXY) Price Target Cut to $68.00 by Analysts at TD Cowen

Occidental Petroleum (NYSE:OXY) had its price target decreased by TD Cowen from $80.00 to $68.00 in a research report released on Tuesday. TD Cowen currently has a buy rating on the oil and gas producer’s stock.

OXY has been the subject of a number of other research reports. Truist Financial reduced their price target on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Susquehanna dropped their price target on shares of Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating for the company in a research note on Friday, October 18th. BMO Capital Markets reduced their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Finally, Evercore ISI dropped their target price on shares of 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 research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.70.

Occidental Petroleum Stock Down 1.5 %

NYSE OXY opened at $49.93 on Tuesday. The stock has a market cap of $46.85 billion, a PE ratio of 13.00 and a beta of 1.58. The business has a 50 day moving average price of $51.80 and a two-hundred day moving average price of $57.49. Occidental Petroleum has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Institutional Trading of Occidental Petroleum

Large investors have recently modified their holdings of the company. Thoroughbred Financial Services LLC lifted its position in shares of Occidental Petroleum by 9.2% during the 1st quarter. Thoroughbred Financial Services LLC now owns 3,846 shares of the oil and gas producer’s stock valued at $250,000 after acquiring an additional 323 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Occidental Petroleum by 107.2% in the first quarter. Russell Investments Group Ltd. now owns 349,592 shares of the oil and gas producer’s stock worth $22,718,000 after buying an additional 180,838 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Occidental Petroleum by 17.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 968,178 shares of the oil and gas producer’s stock valued at $60,443,000 after acquiring an additional 141,430 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Occidental Petroleum by 21.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 777,541 shares of the oil and gas producer’s stock worth $50,532,000 after buying an additional 139,420 shares during the period. Finally, Midwest Professional Planners LTD. bought a new position in Occidental Petroleum during the first quarter worth $586,000. Institutional investors and hedge funds 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.