Occidental Petroleum (NYSE:OXY) Trading Up 0.3% on Analyst Upgrade

Occidental Petroleum Co. (NYSE:OXY)’s stock price traded up 0.3% 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 traded hands during trading, a decline of 57% from the average session volume of 9,310,466 shares. The stock had previously closed at $51.12.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a research report on Friday, November 8th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. BMO Capital Markets cut their target price on shares of 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. Evercore ISI cut their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th. Finally, Wolfe Research raised their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.70.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OXY. H&H International Investment LLC grew its holdings in shares of Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after purchasing an additional 7,680,598 shares during the last quarter. Himalaya Capital Management LLC bought a new position in shares of Occidental Petroleum in the second quarter worth approximately $92,433,000. Clean Energy Transition LLP bought a new stake in Occidental Petroleum in the first quarter valued at $67,601,000. Sarasin & Partners LLP bought a new stake in Occidental Petroleum in the second quarter valued at $63,880,000. Finally, Anson Funds Management LP boosted its holdings in Occidental Petroleum by 3,645.8% in the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after acquiring an additional 745,050 shares in the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 1.5 %

The firm has a market cap of $46.85 billion, a P/E ratio of 13.05 and a beta of 1.58. The firm’s fifty day moving average is $51.84 and its two-hundred day moving average is $57.62. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.76%. The ex-dividend date is Tuesday, December 10th. 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.