Credit Suisse Group began coverage on shares of Occidental Petroleum (NYSE:OXY) in a report published on Monday, December 11th, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $62.00 price target on the oil and gas producer’s stock.
OXY has been the topic of several other research reports. ValuEngine raised Occidental Petroleum from a sell rating to a hold rating in a research note on Friday, December 1st. Barclays increased their price target on Occidental Petroleum from $45.00 to $47.00 and gave the stock an underweight rating in a report on Monday, November 20th. Mizuho restated a hold rating and issued a $64.00 price target on shares of Occidental Petroleum in a report on Friday, November 3rd. Scotiabank reiterated a hold rating and set a $64.00 price objective on shares of Occidental Petroleum in a report on Wednesday, November 22nd. Finally, Jefferies Group increased their price objective on Occidental Petroleum from $62.00 to $66.00 and gave the stock a hold rating in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. Occidental Petroleum currently has an average rating of Hold and a consensus target price of $65.43.
Shares of Occidental Petroleum (OXY) traded down $0.22 during midday trading on Monday, reaching $73.32. The company’s stock had a trading volume of 2,237,532 shares, compared to its average volume of 4,478,046. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. The company has a market cap of $56,120.00, a P/E ratio of 103.27, a P/E/G ratio of 14.54 and a beta of 0.65. Occidental Petroleum has a 52 week low of $57.20 and a 52 week high of $73.90.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.20%. Occidental Petroleum’s payout ratio is 433.80%.
A number of institutional investors and hedge funds have recently made changes to their positions in OXY. Grove Bank & Trust increased its holdings in Occidental Petroleum by 54.8% during the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after purchasing an additional 622 shares in the last quarter. Oakworth Capital Inc. boosted its stake in shares of Occidental Petroleum by 14.7% in the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after buying an additional 250 shares during the last quarter. Fis Group Inc. purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth approximately $126,000. Enterprise Financial Services Corp boosted its stake in shares of Occidental Petroleum by 68.5% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock worth $127,000 after buying an additional 806 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Occidental Petroleum by 14.2% in the 2nd quarter. Parallel Advisors LLC now owns 2,240 shares of the oil and gas producer’s stock worth $139,000 after buying an additional 279 shares during the last quarter. 80.16% of the stock is currently owned by hedge funds and other institutional investors.
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About Occidental Petroleum
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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