Occidental Petroleum (NYSE:OXY) Price Target Raised to $54.00

Occidental Petroleum (NYSE:OXY) had its price target increased by Jefferies Financial Group from $53.00 to $54.00 in a research note published on Tuesday morning. The firm currently has a hold rating on the oil and gas producer’s stock.

OXY has been the subject of a number of other reports. Mizuho dropped their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Scotiabank reduced their target price on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Truist Financial reduced their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Finally, Stephens reaffirmed an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $63.70.

Occidental Petroleum Stock Performance

NYSE OXY opened at $50.67 on Tuesday. Occidental Petroleum has a twelve month low of $48.42 and a twelve month high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The stock has a market cap of $47.55 billion, a P/E ratio of 13.20 and a beta of 1.58. The company’s 50-day simple moving average is $51.90 and its 200 day simple moving average is $57.67.

Occidental Petroleum Dividend Announcement

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

Institutional Trading of Occidental Petroleum

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raffles Associates LP bought a new stake in Occidental Petroleum during the 3rd quarter worth approximately $2,835,000. Auxier Asset Management grew its stake in shares of Occidental Petroleum by 23.2% in the third quarter. Auxier Asset Management now owns 8,767 shares of the oil and gas producer’s stock worth $452,000 after purchasing an additional 1,650 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Occidental Petroleum by 57.3% in the third quarter. Rockefeller Capital Management L.P. now owns 532,454 shares of the oil and gas producer’s stock valued at $27,448,000 after purchasing an additional 193,876 shares during the period. Vinva Investment Management Ltd acquired a new position in Occidental Petroleum during the 3rd quarter worth about $570,000. Finally, Public Sector Pension Investment Board grew its position in shares of Occidental Petroleum by 1.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 117,389 shares of the oil and gas producer’s stock valued at $6,050,000 after buying an additional 1,672 shares during the last quarter. 88.70% of the stock is currently 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.