Occidental Petroleum (NYSE:OXY) Shares Down 1.9% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY) fell 1.9% during trading on Friday . The company traded as low as $47.23 and last traded at $47.58. 6,009,540 shares changed hands during trading, a decline of 36% from the average session volume of 9,347,767 shares. The stock had previously closed at $48.48.

Wall Street Analysts Forecast Growth

OXY has been the topic of several recent research reports. TD Cowen dropped their price target on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Citigroup reduced their target price on Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, November 26th. Barclays decreased their price target on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. UBS Group reduced their price objective on Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Monday, November 18th. Finally, Mizuho lowered their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $63.25.

Occidental Petroleum Stock Down 1.9 %

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 firm has a market capitalization of $44.61 billion, a price-to-earnings ratio of 12.38 and a beta of 1.57. The firm has a 50 day moving average of $51.42 and a two-hundred day moving average of $56.00.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio is 22.92%.

Institutional Trading of Occidental Petroleum

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC grew its position in Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in shares of Occidental Petroleum during the third quarter valued at about $32,000. Transamerica Financial Advisors Inc. acquired a new position in shares of Occidental Petroleum in the third quarter valued at approximately $50,000. Strategic Financial Concepts LLC acquired a new stake in Occidental Petroleum during the 2nd quarter worth approximately $53,000. Finally, LRI Investments LLC grew its holdings in Occidental Petroleum by 34.6% during the 2nd quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock worth $57,000 after acquiring an additional 233 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.