Occidental Petroleum (NYSE:OXY) Stock Price Up 0.3% Following Analyst Upgrade

Shares of Occidental Petroleum Co. (NYSE:OXY) traded up 0.3% during mid-day trading on Thursday after Stephens raised their price target on the stock from $70.00 to $71.00. Stephens currently has an overweight rating on the stock. Occidental Petroleum traded as high as $52.30 and last traded at $51.25. 3,991,323 shares were traded during mid-day trading, a decline of 57% from the average session volume of 9,310,466 shares. The stock had previously closed at $51.12.

OXY has been the topic of a number of other research reports. Mizuho cut their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Barclays cut their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Truist Financial cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Evercore ISI cut their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. Finally, Jefferies Financial Group raised their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $63.70.

Institutional Trading of Occidental Petroleum

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Earnest Partners LLC grew its position in Occidental Petroleum by 2.6% in the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after purchasing an additional 173 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its position in Occidental Petroleum by 2.0% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock worth $573,000 after purchasing an additional 175 shares during the last quarter. Atria Wealth Solutions Inc. grew its position in Occidental Petroleum by 0.6% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock worth $1,735,000 after purchasing an additional 176 shares during the last quarter. Raymond James Trust N.A. grew its position in Occidental Petroleum by 1.0% in the 2nd quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock worth $1,109,000 after purchasing an additional 182 shares during the last quarter. Finally, Gateway Advisory LLC grew its position in Occidental Petroleum by 3.9% in the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after purchasing an additional 184 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Stock Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04. The firm’s 50-day moving average price is $51.90 and its two-hundred day moving average price is $57.67. The firm has a market capitalization of $45.89 billion, a price-to-earnings ratio of 13.35 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 annualized dividend and a dividend yield of 1.74%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.

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.