Occidental Petroleum (NYSE:OXY) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Occidental Petroleum (NYSE:OXY) had its target price lifted by Jefferies Financial Group from $53.00 to $54.00 in a report released on Tuesday morning. They currently have a hold rating on the oil and gas producer’s stock.

A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets dropped their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Evercore ISI lowered their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $56.00 price target on shares of Occidental Petroleum in a research note on Friday, November 8th. Finally, Raymond James lowered their price objective on Occidental Petroleum from $85.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.70.

Occidental Petroleum Price Performance

Shares of OXY stock opened at $49.93 on Tuesday. The stock’s fifty day moving average is $51.80 and its 200-day moving average is $57.49. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.75 and a current ratio of 1.00. Occidental Petroleum has a 52 week low of $48.42 and a 52 week high of $71.18. The stock has a market capitalization of $46.85 billion, a PE ratio of 13.00 and a beta of 1.58.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.76%. Occidental Petroleum’s payout ratio is presently 22.92%.

Institutional Investors Weigh In On Occidental Petroleum

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. H&H International Investment LLC boosted its stake in shares of Occidental Petroleum by 497.7% during the 3rd quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after acquiring an additional 7,680,598 shares during the period. Himalaya Capital Management LLC acquired a new position in Occidental Petroleum in the 2nd quarter valued at about $92,433,000. Clean Energy Transition LLP bought a new position in Occidental Petroleum in the 1st quarter valued at about $67,601,000. Sarasin & Partners LLP acquired a new stake in Occidental Petroleum during the second quarter worth approximately $63,880,000. Finally, Anson Funds Management LP grew its position in shares of Occidental Petroleum by 3,645.8% in the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock valued at $39,453,000 after purchasing an additional 745,050 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

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.