Occidental Petroleum (NYSE:OXY) Price Target Raised to $71.00

Occidental Petroleum (NYSE:OXY) had its price objective increased by Stephens from $70.00 to $71.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas producer’s stock.

Several other equities analysts also recently commented on the company. Wolfe Research increased their target price on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday. The Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective for the company. BMO Capital Markets reduced their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Scotiabank cut their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Mizuho lowered their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.70.

Occidental Petroleum Stock Down 1.4 %

Shares of NYSE:OXY opened at $49.97 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 and a current ratio of 1.00. Occidental Petroleum has a 52-week low of $48.42 and a 52-week high of $71.18. The company has a market capitalization of $46.89 billion, a PE ratio of 13.00 and a beta of 1.58. The company has a fifty day moving average of $51.80 and a 200-day moving average of $57.49.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. 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 1.76%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OXY. Fortitude Family Office LLC lifted its position in Occidental Petroleum by 160.0% in the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the third quarter valued at approximately $32,000. New Covenant Trust Company N.A. bought a new stake in Occidental Petroleum during the first quarter worth $44,000. LRI Investments LLC purchased a new stake in Occidental Petroleum in the 1st quarter valued at $44,000. Finally, Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum during the 3rd quarter valued at $50,000. 88.70% of the stock is owned by 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.