Occidental Petroleum (NYSE:OXY) Price Target Raised to $54.00 at Jefferies Financial Group

Occidental Petroleum (NYSE:OXY) had its price objective lifted by Jefferies Financial Group from $53.00 to $54.00 in a research note released on Tuesday morning. The brokerage currently has a hold rating on the oil and gas producer’s stock.

A number of other equities research analysts have also recently commented on OXY. Truist Financial reduced their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a report on Monday, September 30th. Susquehanna cut their target price on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a report on Friday, October 18th. TD Cowen lowered their price objective on shares of Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays decreased their target price on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $63.70.

Occidental Petroleum Trading Down 0.9 %

NYSE OXY opened at $50.67 on Tuesday. The stock has a market capitalization of $47.55 billion, a P/E ratio of 13.20 and a beta of 1.58. Occidental Petroleum has a one year low of $48.42 and a one year high of $71.18. The business has a 50 day simple moving average of $51.90 and a 200 day simple moving average of $57.67. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.75.

Occidental Petroleum Announces Dividend

The business 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 $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC grew its stake in Occidental Petroleum by 160.0% during the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 304 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Occidental Petroleum in the third quarter worth $32,000. New Covenant Trust Company N.A. purchased a new stake in shares of Occidental Petroleum in the first quarter worth $44,000. LRI Investments LLC bought a new stake in Occidental Petroleum during the first quarter valued at $44,000. Finally, Transamerica Financial Advisors Inc. bought a new position in Occidental Petroleum in the 3rd quarter worth about $50,000. 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.