Occidental Petroleum Co. (NYSE:OXY) Receives $62.75 Consensus Target Price from Brokerages

Occidental Petroleum Co. (NYSE:OXY) has been given an average recommendation of “Hold” by the twenty ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $62.65.

A number of equities research analysts have recently weighed in on the stock. UBS Group lowered their price objective on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a report on Monday, December 9th. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research report on Friday, November 8th. Susquehanna reduced their price objective on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. Stephens boosted their target price on Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Barclays decreased their price target on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $46.02 on Friday. The company has a market capitalization of $43.18 billion, a price-to-earnings ratio of 11.98 and a beta of 1.57. The business has a 50 day moving average of $50.37 and a 200 day moving average of $55.20. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum has a 1-year low of $45.79 and a 1-year high of $71.18.

Occidental Petroleum Announces Dividend

The firm also recently declared 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. 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 1.91%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.

Hedge Funds Weigh In On Occidental Petroleum

A number of institutional investors and hedge funds have recently made changes to their positions in OXY. H&H International Investment LLC increased its position in Occidental Petroleum by 497.7% during 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 bought a new position in shares of Occidental Petroleum during the second quarter valued at $92,433,000. Sarasin & Partners LLP purchased a new position in shares of Occidental Petroleum in the 2nd quarter worth about $63,880,000. Anson Funds Management LP boosted its stake 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 worth $39,453,000 after purchasing an additional 745,050 shares in the last quarter. Finally, Scharf Investments LLC bought a new stake in Occidental Petroleum during the 2nd quarter valued at about $42,744,000. Institutional investors 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.