JPMorgan Chase & Co. Reiterates Neutral Rating for Occidental Petroleum (NYSE:OXY)

JPMorgan Chase & Co. reiterated their neutral rating on shares of Occidental Petroleum (NYSE:OXY) in a report released on Friday morning, Marketbeat.com reports. The brokerage currently has a $56.00 target price on the oil and gas producer’s stock.

OXY has been the topic of a number of other reports. Truist Financial reduced their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. Scotiabank reduced their price target on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets lowered their price objective on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a report on Friday, October 4th. Stephens reissued an “overweight” rating and issued a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. Finally, StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $64.78.

Occidental Petroleum Trading Up 0.6 %

NYSE:OXY opened at $50.81 on Friday. The firm has a market capitalization of $46.01 billion, a P/E ratio of 12.51 and a beta of 1.58. Occidental Petroleum has a 52 week low of $49.51 and a 52 week high of $71.18. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The company has a fifty day moving average of $52.20 and a 200 day moving average of $57.96.

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 $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 21.67%.

Insider Buying and Selling at Occidental Petroleum

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total transaction of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at approximately $5,923,116,413.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

Institutional Trading of Occidental Petroleum

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Meeder Advisory Services Inc. lifted its stake in shares of Occidental Petroleum by 2.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,503 shares of the oil and gas producer’s stock valued at $553,000 after purchasing an additional 164 shares during the period. Earnest Partners LLC grew its holdings in shares of Occidental Petroleum by 2.6% in the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock valued at $445,000 after purchasing an additional 173 shares during the period. Commerzbank Aktiengesellschaft FI increased its holdings in shares of Occidental Petroleum by 2.0% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock worth $573,000 after buying an additional 175 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in Occidental Petroleum by 0.6% during the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock worth $1,735,000 after acquiring an additional 176 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in Occidental Petroleum by 1.0% in the 2nd quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock valued at $1,109,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds 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.