Occidental Petroleum (NYSE:OXY) Shares Up 0.4% – What’s Next?

Shares of Occidental Petroleum Co. (NYSE:OXY) shot up 0.4% on Wednesday . The company traded as high as $50.90 and last traded at $50.70. 1,460,976 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 9,349,053 shares. The stock had previously closed at $50.50.

Analysts Set New Price Targets

OXY has been the subject of several analyst reports. Stephens boosted their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday. Raymond James lowered their target price on shares of Occidental Petroleum from $85.00 to $77.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Truist Financial dropped their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Finally, Wolfe Research raised their price target on Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus target price of $63.65.

Occidental Petroleum Stock Up 0.3 %

The stock has a market capitalization of $47.54 billion, a P/E ratio of 13.20 and a beta of 1.58. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96. The firm’s fifty day moving average is $51.75 and its 200-day moving average is $57.19.

Occidental Petroleum Announces Dividend

The firm 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 $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 22.92%.

Institutional Trading of Occidental Petroleum

Several large investors have recently made changes to their positions in the business. Stephens Inc. AR lifted its position in Occidental Petroleum by 221.0% during the 3rd quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock worth $777,000 after buying an additional 10,382 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Occidental Petroleum by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,482,049 shares of the oil and gas producer’s stock worth $76,385,000 after purchasing an additional 22,920 shares in the last quarter. Czech National Bank grew its stake in shares of Occidental Petroleum by 8.3% during the third quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock valued at $7,069,000 after purchasing an additional 10,456 shares during the last quarter. Discovery Capital Management LLC CT acquired a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $10,331,000. Finally, Janney Montgomery Scott LLC raised its position in Occidental Petroleum by 15.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock worth $11,440,000 after purchasing an additional 29,344 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.