Occidental Petroleum (NYSE:OXY) Price Target Lowered to $56.00 at Citigroup

Occidental Petroleum (NYSE:OXY) had its price target reduced by Citigroup from $57.00 to $56.00 in a research report report published on Tuesday,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group lifted their price target on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Stephens boosted their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. Scotiabank dropped their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Wells Fargo & Company decreased their price objective on 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. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.25.

Occidental Petroleum Trading Down 1.2 %

OXY stock opened at $49.81 on Tuesday. The business has a fifty day moving average price of $51.72 and a 200 day moving average price of $56.72. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The stock has a market capitalization of $46.74 billion, a price-to-earnings ratio of 12.97 and a beta of 1.58.

Occidental Petroleum Announces Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.77%. Occidental Petroleum’s dividend payout ratio is 22.92%.

Institutional Trading of Occidental Petroleum

Hedge funds have recently added to or reduced their stakes in the business. Synovus Financial Corp grew its stake in Occidental Petroleum by 1,247.7% in the third quarter. Synovus Financial Corp now owns 50,486 shares of the oil and gas producer’s stock valued at $2,602,000 after acquiring an additional 46,740 shares during the period. Tidal Investments LLC lifted its holdings in shares of Occidental Petroleum by 67.9% during the 3rd quarter. Tidal Investments LLC now owns 80,025 shares of the oil and gas producer’s stock valued at $4,124,000 after purchasing an additional 32,356 shares in the last quarter. Blankinship & Foster LLC acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at approximately $314,000. PVG Asset Management Corp bought a new stake in Occidental Petroleum during the 3rd quarter worth approximately $411,000. Finally, Rule One Partners LLC acquired a new stake in Occidental Petroleum during the 3rd quarter worth approximately $14,199,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.