Occidental Petroleum (NYSE:OXY) Given New $78.00 Price Target at Raymond James

Occidental Petroleum (NYSE:OXY) had its target price upped by Raymond James from $77.00 to $78.00 in a research report report published on Thursday,Benzinga reports. They currently have a strong-buy rating on the oil and gas producer’s stock.

A number of other research analysts have also issued reports on the stock. Evercore ISI reduced 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 note on Monday, September 30th. Bank of America initiated coverage on shares of Occidental Petroleum in a research report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target on the stock. Jefferies Financial Group boosted their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Wolfe Research boosted their price target on shares of Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Susquehanna dropped their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $63.70.

Occidental Petroleum Trading Up 1.2 %

Occidental Petroleum stock opened at $51.54 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average price of $51.77 and a two-hundred day moving average price of $57.11. The firm has a market capitalization of $48.36 billion, a price-to-earnings ratio of 13.42 and a beta of 1.58. Occidental Petroleum has a 52-week low of $48.42 and a 52-week high of $71.18.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is presently 22.92%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OXY. Fortitude Family Office LLC grew its position in Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum in the third quarter worth approximately $32,000. New Covenant Trust Company N.A. bought a new stake in Occidental Petroleum in the first quarter worth approximately $44,000. LRI Investments LLC bought a new stake in Occidental Petroleum in the first quarter worth approximately $44,000. Finally, Transamerica Financial Advisors Inc. bought a new stake in Occidental Petroleum in the third quarter worth approximately $50,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

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.