Occidental Petroleum (NYSE:OXY) Given New $54.00 Price Target at Jefferies Financial Group

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

A number of other analysts also recently weighed in on the company. Stephens reiterated an “overweight” rating and set a $76.00 target price on shares of Occidental Petroleum in a research report on Thursday, August 8th. UBS Group decreased their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Bank of America assumed coverage on shares of Occidental Petroleum in a report on Thursday, October 17th. They set a “neutral” rating and a $57.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price objective on the stock. Finally, Wolfe Research upped their target price on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note 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 stock. According to MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $63.70.

Occidental Petroleum Trading Down 1.5 %

Shares of OXY stock opened at $49.93 on Tuesday. The stock has a market cap of $46.85 billion, a P/E ratio of 13.00 and a beta of 1.58. Occidental Petroleum has a 1 year low of $48.42 and a 1 year high of $71.18. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.96. The stock has a 50 day simple moving average of $51.80 and a 200 day simple moving average of $57.49.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased 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 in the last quarter. M&T Bank Corp raised its stake in shares of Occidental Petroleum by 35.6% in the third quarter. M&T Bank Corp now owns 50,428 shares of the oil and gas producer’s stock worth $2,599,000 after purchasing an additional 13,245 shares during the last quarter. Guardian Wealth Management Inc. grew its stake in shares of Occidental Petroleum by 275.1% in the 3rd quarter. Guardian Wealth Management Inc. now owns 51,690 shares of the oil and gas producer’s stock worth $2,664,000 after acquiring an additional 37,909 shares in the last quarter. Gordian Capital Singapore Pte Ltd increased its stake in Occidental Petroleum by 28.3% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 7,702 shares of the oil and gas producer’s stock valued at $397,000 after buying an additional 1,700 shares during the last quarter. Finally, Geller Advisors LLC purchased a new stake in shares of Occidental Petroleum during the third quarter valued at approximately $464,000. 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.