Occidental Petroleum (OXY) – Investment Analysts’ Weekly Ratings Updates

Posted by Patrick Bannon on Nov 26th, 2024

Several brokerages have updated their recommendations and price targets on shares of Occidental Petroleum (NYSE: OXY) in the last few weeks:

11/21/2024 – Occidental Petroleum had its price target raised by analysts at Raymond James from $77.00 to $78.00. They now have a “strong-buy” rating on the stock.
11/19/2024 – Occidental Petroleum was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
11/18/2024 – Occidental Petroleum had its price target lowered by analysts at UBS Group AG from $59.00 to $58.00. They now have a “neutral” rating on the stock.
11/14/2024 – Occidental Petroleum had its price target lowered by analysts at Susquehanna from $77.00 to $65.00. They now have a “positive” rating on the stock.
11/13/2024 – Occidental Petroleum had its price target raised by analysts at Stephens from $70.00 to $71.00. They now have an “overweight” rating on the stock.
11/12/2024 – Occidental Petroleum had its price target raised by analysts at Jefferies Financial Group Inc. from $53.00 to $54.00. They now have a “hold” rating on the stock.
11/12/2024 – Occidental Petroleum had its price target raised by analysts at Wolfe Research from $73.00 to $75.00. They now have a “buy” rating on the stock.
11/12/2024 – Occidental Petroleum had its price target lowered by analysts at Raymond James from $85.00 to $77.00. They now have a “buy” rating on the stock.
11/12/2024 – Occidental Petroleum had its price target lowered by analysts at TD Cowen from $80.00 to $68.00. They now have a “buy” rating on the stock.
11/8/2024 – Occidental Petroleum had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $56.00 price target on the stock.
11/7/2024 – Occidental Petroleum was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
10/18/2024 – Occidental Petroleum had its price target lowered by analysts at Susquehanna from $78.00 to $77.00. They now have a “positive” rating on the stock.
10/17/2024 – Occidental Petroleum is now covered by analysts at Bank of America Co.. They set a “neutral” rating and a $57.00 price target on the stock.
10/10/2024 – Occidental Petroleum had its price target lowered by analysts at Scotiabank from $80.00 to $65.00. They now have a “sector outperform” rating on the stock.
10/5/2024 – Occidental Petroleum was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
10/4/2024 – Occidental Petroleum had its price target lowered by analysts at BMO Capital Markets from $70.00 to $65.00. They now have a “market perform” rating on the stock.
10/3/2024 – Occidental Petroleum had its price target lowered by analysts at Barclays PLC from $67.00 to $58.00. They now have an “equal weight” rating on the stock.
10/2/2024 – Occidental Petroleum is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “neutral” rating and a $55.00 price target on the stock.
9/30/2024 – Occidental Petroleum had its price target lowered by analysts at Evercore ISI from $67.00 to $63.00. They now have an “underperform” rating on the stock.
9/30/2024 – Occidental Petroleum had its price target lowered by analysts at Truist Financial Co. from $65.00 to $56.00. They now have a “hold” rating on the stock.
9/27/2024 – Occidental Petroleum was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
9/27/2024 – Occidental Petroleum had its price target lowered by analysts at Wells Fargo & Company from $65.00 to $56.00. They now have an “equal weight” rating on the stock.

Occidental Petroleum Price Performance

OXY traded down $0.54 on Tuesday, reaching $49.90. The stock had a trading volume of 4,011,391 shares, compared to its average volume of 9,349,817. The firm has a 50-day moving average of $51.77 and a 200-day moving average of $56.82. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $46.82 billion, a price-to-earnings ratio of 12.99 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 1.76%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds have recently bought and sold shares of the company. H&H International Investment LLC increased its position in Occidental Petroleum by 497.7% in the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after buying an additional 7,680,598 shares in the last quarter. Himalaya Capital Management LLC purchased a new stake in shares of Occidental Petroleum in the second quarter worth approximately $92,433,000. Sarasin & Partners LLP purchased a new position in shares of Occidental Petroleum during the second quarter valued at approximately $63,880,000. Anson Funds Management LP raised its position in Occidental Petroleum by 3,645.8% in the 3rd quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after buying an additional 745,050 shares during the last quarter. Finally, Scharf Investments LLC bought a new position in Occidental Petroleum during the 2nd quarter valued at $42,744,000. Institutional investors own 88.70% of the company’s stock.

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.