Occidental Petroleum (NYSE:OXY) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Occidental Petroleum (NYSE:OXY) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

A number of other analysts also recently issued reports on the company. Wolfe Research raised their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Barclays cut their price objective on Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Mizuho cut their price objective 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 price objective on shares of Occidental Petroleum in a research report on Friday, November 8th. Finally, Wells Fargo & Company cut their price objective on Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $62.75.

Occidental Petroleum Stock Down 0.9 %

Shares of OXY opened at $48.05 on Tuesday. Occidental Petroleum has a 52-week low of $47.20 and a 52-week high of $71.18. The company has a market capitalization of $45.09 billion, a PE ratio of 12.51 and a beta of 1.57. The stock has a fifty day simple moving average of $51.37 and a two-hundred day simple moving average of $55.86. 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 Dividend Announcement

The company 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 is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.83%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Institutional Investors Weigh In On Occidental Petroleum

Large investors have recently modified their holdings of the stock. Fortitude Family Office LLC grew its stake in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Occidental Petroleum in the third quarter valued at about $32,000. LRI Investments LLC boosted its holdings in Occidental Petroleum by 34.6% in the second quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock valued at $57,000 after purchasing an additional 233 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new position in Occidental Petroleum in the third quarter valued at about $50,000. Finally, Exchange Traded Concepts LLC purchased a new position in Occidental Petroleum in the third quarter valued at about $87,000. 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.