Brokerages Set Occidental Petroleum Co. (NYSE:OXY) Price Target at $63.65

Occidental Petroleum Co. (NYSE:OXY) has received a consensus rating of “Hold” from the twenty ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $63.70.

OXY has been the topic of a number of recent research reports. Raymond James lifted their target price on shares of Occidental Petroleum from $77.00 to $78.00 and gave the company a “strong-buy” rating in a report on Thursday, November 21st. Stephens upped their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. The Goldman Sachs Group started coverage on Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. Finally, Evercore ISI dropped their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th.

Occidental Petroleum Trading Down 2.8 %

NYSE:OXY opened at $50.45 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. Occidental Petroleum has a 52-week low of $48.42 and a 52-week high of $71.18. The stock’s 50 day moving average price is $51.77 and its 200 day moving average price is $56.82. The company has a market capitalization of $47.34 billion, a PE ratio of 13.14 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Institutional Trading of Occidental Petroleum

Several large investors have recently bought and sold shares of OXY. Synovus Financial Corp boosted its position in shares of Occidental Petroleum by 1,247.7% in the 3rd quarter. Synovus Financial Corp now owns 50,486 shares of the oil and gas producer’s stock worth $2,602,000 after buying an additional 46,740 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Occidental Petroleum by 67.9% in the third quarter. Tidal Investments LLC now owns 80,025 shares of the oil and gas producer’s stock valued at $4,124,000 after purchasing an additional 32,356 shares in the last quarter. Blankinship & Foster LLC acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $314,000. PVG Asset Management Corp purchased a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $411,000. Finally, Rule One Partners LLC purchased a new stake in Occidental Petroleum in the 3rd quarter valued at approximately $14,199,000. 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.