Occidental Petroleum (NYSE:OXY) Hits New 1-Year Low After Analyst Downgrade

Shares of Occidental Petroleum Co. (NYSE:OXY) hit a new 52-week low on Tuesday after Mizuho lowered their price target on the stock from $72.00 to $70.00. Mizuho currently has a neutral rating on the stock. Occidental Petroleum traded as low as $46.27 and last traded at $46.27, with a volume of 103851 shares trading hands. The stock had previously closed at $46.60.

Several other research firms have also recently issued reports on OXY. Citigroup dropped their price target on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. JPMorgan Chase & Co. restated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a report on Friday, November 8th. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. TD Cowen cut their target price on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, 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 report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $62.65.

Institutional Investors Weigh In On Occidental Petroleum

A number of large investors have recently bought and sold shares of the business. Atria Wealth Solutions Inc. boosted its stake in shares of Occidental Petroleum by 0.6% during 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 acquiring an additional 176 shares in the last quarter. Raymond James Trust N.A. grew its holdings in Occidental Petroleum by 1.0% during the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock valued at $1,109,000 after purchasing an additional 182 shares during the last quarter. Gateway Advisory LLC raised its position in shares of Occidental Petroleum by 3.9% in the second quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock valued at $306,000 after purchasing an additional 184 shares during the period. Joule Financial LLC lifted its stake in shares of Occidental Petroleum by 2.5% in the second quarter. Joule Financial LLC now owns 7,863 shares of the oil and gas producer’s stock worth $497,000 after buying an additional 191 shares during the last quarter. Finally, Segment Wealth Management LLC grew its stake in Occidental Petroleum by 5.2% in the 3rd quarter. Segment Wealth Management LLC now owns 3,973 shares of the oil and gas producer’s stock valued at $205,000 after buying an additional 196 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors.

Occidental Petroleum Stock Down 0.1 %

The stock has a market cap of $43.69 billion, a P/E ratio of 12.13 and a beta of 1.57. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm’s fifty day moving average is $50.53 and its 200 day moving average is $55.26.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 1.89%. Occidental Petroleum’s dividend payout ratio is presently 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.