Mizuho Cuts Occidental Petroleum (NYSE:OXY) Price Target to $70.00

Occidental Petroleum (NYSE:OXY) had its price objective lowered by Mizuho from $72.00 to $70.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

Several other research analysts have also weighed in on OXY. Susquehanna lowered their target price on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research report on Thursday, November 14th. UBS Group cut their target price on shares of Occidental Petroleum from $58.00 to $51.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. BMO Capital Markets dropped 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 research note on Friday, October 4th. Jefferies Financial Group upped their target price on Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Finally, Evercore ISI reduced their price objective on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $62.65.

Occidental Petroleum Trading Down 1.2 %

NYSE:OXY opened at $46.02 on Monday. The stock has a market capitalization of $43.18 billion, a price-to-earnings ratio of 11.98 and a beta of 1.57. Occidental Petroleum has a 1 year low of $45.79 and a 1 year high of $71.18. The stock has a fifty day moving average price of $50.37 and a two-hundred day moving average price of $55.20. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OXY. Geode Capital Management LLC raised its stake in shares of Occidental Petroleum by 3.3% in the 3rd 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 period. H&H International Investment LLC raised its position in Occidental Petroleum by 497.7% in the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock valued at $475,389,000 after purchasing an additional 7,680,598 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Occidental Petroleum by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,007,770 shares of the oil and gas producer’s stock worth $206,560,000 after purchasing an additional 98,703 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Occidental Petroleum by 16.8% in the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock valued at $233,687,000 after buying an additional 532,318 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Occidental Petroleum by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,973,614 shares of the oil and gas producer’s stock valued at $101,720,000 after buying an additional 5,200 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

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.