Occidental Petroleum (NYSE:OXY) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Occidental Petroleum (NYSE:OXY) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Other equities analysts also recently issued research reports about the stock. Susquehanna cut their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a report on Thursday, November 14th. Evercore ISI cut their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. TD Cowen cut their price target on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. BMO Capital Markets cut their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a report on Friday, October 4th. Finally, Bank of America started coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They issued a “neutral” rating and a $57.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $62.75.

Occidental Petroleum Stock Performance

OXY opened at $48.05 on Tuesday. 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 company has a market cap of $45.09 billion, a P/E ratio of 12.51 and a beta of 1.57. The firm’s 50-day moving average price is $51.37 and its 200-day moving average price is $55.86.

Occidental Petroleum Announces Dividend

The firm also recently announced 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 of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.83%. Occidental Petroleum’s dividend payout ratio (DPR) is 22.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in Occidental Petroleum by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,846,890 shares of the oil and gas producer’s stock valued at $710,886,000 after purchasing an additional 444,850 shares in the last quarter. H&H International Investment LLC lifted its holdings in Occidental Petroleum by 497.7% in the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after purchasing an additional 7,680,598 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Occidental Petroleum by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock valued at $206,560,000 after purchasing an additional 98,703 shares in the last quarter. American Century Companies Inc. lifted its holdings in Occidental Petroleum by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after purchasing an additional 532,318 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Occidental Petroleum by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after purchasing an additional 5,200 shares in the last quarter. Hedge funds and other institutional investors 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.