Occidental Petroleum (NYSE:OXY) Rating Increased to Hold at StockNews.com

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

Several other brokerages have also recently commented on OXY. Truist Financial dropped their target price on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company dropped their price objective on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Evercore ISI decreased their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. UBS Group dropped their price target on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. Finally, Mizuho reduced their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.70.

Occidental Petroleum Stock Up 0.7 %

Occidental Petroleum stock opened at $51.91 on Tuesday. The company’s 50-day moving average price is $51.79 and its two-hundred day moving average price is $57.02. The stock has a market cap of $48.71 billion, a price-to-earnings ratio of 13.52 and a beta of 1.58. Occidental Petroleum has a 52 week low of $48.42 and a 52 week high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.70%. Occidental Petroleum’s dividend payout ratio is 22.92%.

Institutional Investors Weigh In On Occidental Petroleum

Several hedge funds have recently bought and sold shares of the business. Lake Street Advisors Group LLC purchased a new position in Occidental Petroleum during the first quarter valued at approximately $319,000. Pitcairn Co. grew its holdings in shares of Occidental Petroleum by 6.2% during the 1st quarter. Pitcairn Co. now owns 4,490 shares of the oil and gas producer’s stock valued at $292,000 after acquiring an additional 264 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of Occidental Petroleum by 13.2% during the first quarter. Axxcess Wealth Management LLC now owns 36,660 shares of the oil and gas producer’s stock worth $2,383,000 after acquiring an additional 4,282 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Occidental Petroleum by 14.2% during the first quarter. Advisors Asset Management Inc. now owns 33,180 shares of the oil and gas producer’s stock valued at $2,156,000 after purchasing an additional 4,125 shares during the last quarter. Finally, Clean Energy Transition LLP purchased a new position in Occidental Petroleum in the first quarter valued at about $67,601,000. 88.70% of the stock is owned by hedge funds and other 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.