Occidental Petroleum Co. (NYSE:OXY) Given Average Recommendation of “Hold” by Brokerages

Shares of Occidental Petroleum Co. (NYSE:OXY) have been given a consensus recommendation of “Hold” by the twenty research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $62.75.

Several research analysts have recently commented on the company. Scotiabank reduced their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Evercore ISI cut their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research report on Monday, September 30th. Wolfe Research raised their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Truist Financial cut their price objective on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, Jefferies Financial Group raised their price objective on Occidental Petroleum from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th.

Occidental Petroleum Stock Down 1.2 %

NYSE OXY opened at $47.64 on Friday. Occidental Petroleum has a 52 week low of $47.20 and a 52 week 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 business’s fifty day simple moving average is $51.03 and its 200-day simple moving average is $55.66. The firm has a market cap of $44.70 billion, a PE ratio of 12.40 and a beta of 1.57.

Occidental Petroleum Announces Dividend

The business also recently disclosed 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors and hedge funds have recently made changes to their positions in the stock. Commerzbank Aktiengesellschaft FI raised its position in Occidental Petroleum by 2.0% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock worth $573,000 after buying an additional 175 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in 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 buying an additional 176 shares during the last quarter. Raymond James Trust N.A. raised its position in Occidental Petroleum by 1.0% during 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 buying an additional 182 shares during the last quarter. Gateway Advisory LLC raised its position in Occidental Petroleum by 3.9% during the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after buying an additional 184 shares during the last quarter. Finally, Joule Financial LLC raised its position in Occidental Petroleum by 2.5% during the 2nd 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. 88.70% of the stock is owned by institutional investors and hedge funds.

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.