Occidental Petroleum (NYSE:OXY) Rating Lowered to Sell at StockNews.com

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

Several other analysts have also issued reports on OXY. Mizuho lowered their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company lowered their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a report on Friday, November 8th. Stephens upped their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Finally, Bank of America assumed coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 target price on the stock. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and an average price target of $63.25.

Occidental Petroleum Stock Performance

NYSE OXY opened at $50.43 on Monday. The company’s 50 day moving average is $51.64 and its 200-day moving average is $56.45. Occidental Petroleum has a 12-month low of $48.42 and a 12-month high of $71.18. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The firm has a market cap of $47.32 billion, a P/E ratio of 13.13 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The company 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 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 yield of 1.74%. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Institutional Investors Weigh In On Occidental Petroleum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Fortitude Family Office LLC raised its holdings in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum during the 3rd quarter valued at $32,000. Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum in the 3rd quarter worth $50,000. Strategic Financial Concepts LLC bought a new position in Occidental Petroleum in the 2nd quarter worth $53,000. Finally, LRI Investments LLC raised its holdings 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 worth $57,000 after purchasing an additional 233 shares in the last quarter. 88.70% of the stock is currently owned by 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.