Occidental Petroleum (NYSE:OXY) Given New $58.00 Price Target at UBS Group

Occidental Petroleum (NYSE:OXY) had its price objective decreased by UBS Group from $59.00 to $58.00 in a research note issued to investors on Monday,Benzinga reports. UBS Group currently has a neutral rating on the oil and gas producer’s stock.

A number of other research analysts also recently weighed in on OXY. Susquehanna decreased their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Raymond James decreased their target price on shares of Occidental Petroleum from $85.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. BMO Capital Markets dropped 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 research report on Friday, October 4th. Scotiabank decreased 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 dropped their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.65.

Occidental Petroleum Trading Up 0.8 %

Occidental Petroleum stock opened at $50.91 on Monday. The company has a market cap of $47.77 billion, a price-to-earnings ratio of 13.26 and a beta of 1.58. The firm has a 50-day moving average of $51.76 and a 200-day moving average of $57.15. 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 one year low of $48.42 and a one year high of $71.18.

Occidental Petroleum Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.73%. Occidental Petroleum’s payout ratio is 22.92%.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC increased its position in shares of Occidental Petroleum by 1,181.3% in the third quarter. Virtu Financial LLC now owns 65,437 shares of the oil and gas producer’s stock worth $3,373,000 after purchasing an additional 60,330 shares during the period. TCW Group Inc. raised its position in shares of Occidental Petroleum by 30.0% in the 3rd quarter. TCW Group Inc. now owns 101,365 shares of the oil and gas producer’s stock valued at $5,224,000 after buying an additional 23,366 shares in the last quarter. Empire Financial Management Company LLC lifted its holdings in shares of Occidental Petroleum by 4.1% during the 3rd quarter. Empire Financial Management Company LLC now owns 6,383 shares of the oil and gas producer’s stock worth $329,000 after acquiring an additional 250 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Occidental Petroleum by 30.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,576 shares of the oil and gas producer’s stock worth $596,000 after acquiring an additional 2,697 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Occidental Petroleum by 3.3% in the third 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 acquiring an additional 444,850 shares during the last quarter. 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.