Occidental Petroleum Co. (NYSE:OXY – Get Free Report) dropped 0.2% during mid-day trading on Tuesday after Raymond James lowered their price target on the stock from $85.00 to $77.00. Raymond James currently has a buy rating on the stock. Occidental Petroleum traded as low as $50.65 and last traded at $50.71. Approximately 3,081,353 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 9,223,449 shares. The stock had previously closed at $50.81.
Several other brokerages have also weighed in on OXY. Scotiabank decreased their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a report on Friday, November 8th. UBS Group reduced their price target on Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Finally, Susquehanna cut their target price on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. One 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.com, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $64.30.
View Our Latest Analysis on OXY
Institutional Inflows and Outflows
Occidental Petroleum Price Performance
The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The stock has a market cap of $46.30 billion, a price-to-earnings ratio of 13.31 and a beta of 1.58. The company’s 50-day moving average is $51.97 and its 200-day moving average is $57.72.
Occidental Petroleum Announces Dividend
The business 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. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.72%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.
About Occidental Petroleum
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.
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