Brokerages Set Occidental Petroleum Co. (NYSE:OXY) Price Target at $62.75

Shares of Occidental Petroleum Co. (NYSE:OXY) have received a consensus rating of “Hold” from the twenty research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $62.65.

OXY has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $56.00 price objective on shares of Occidental Petroleum in a research note on Friday, November 8th. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, December 10th. Susquehanna lowered their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Finally, BMO Capital Markets decreased their price objective on Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research report on Friday, October 4th.

Occidental Petroleum Trading Down 2.2 %

OXY opened at $46.60 on Friday. 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 has a 52 week low of $46.41 and a 52 week high of $71.18. The business’s 50 day moving average is $50.68 and its two-hundred day moving average is $55.37. The firm has a market cap of $43.72 billion, a price-to-earnings ratio of 12.13 and a beta of 1.57.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.89%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OXY. Fortitude Family Office LLC boosted its position in shares of 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 worth $25,000 after buying an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum in the third quarter valued at approximately $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum during the 3rd quarter worth approximately $50,000. Strategic Financial Concepts LLC acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth approximately $53,000. Finally, LRI Investments LLC lifted its stake in Occidental Petroleum by 34.6% in the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock valued at $57,000 after buying an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.