ValuEngine upgraded shares of Occidental Petroleum (NYSE:OXY) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
Several other brokerages also recently commented on OXY. Barclays set a $38.00 price objective on shares of Occidental Petroleum and gave the stock a sell rating in a research report on Friday, August 4th. Zacks Investment Research raised shares of Occidental Petroleum from a sell rating to a hold rating in a research report on Tuesday, September 12th. Scotiabank reaffirmed a hold rating and set a $64.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, November 22nd. BMO Capital Markets set a $60.00 price objective on shares of Occidental Petroleum and gave the stock a hold rating in a research report on Tuesday, October 10th. Finally, Jefferies Group reaffirmed a hold rating and set a $58.00 price objective on shares of Occidental Petroleum in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $67.27.
Occidental Petroleum (NYSE:OXY) traded up $0.52 during trading hours on Friday, reaching $70.76. 1,480,779 shares of the company’s stock were exchanged, compared to its average volume of 4,523,272. The firm has a market cap of $53,750.83, a P/E ratio of 200.69, a PEG ratio of 14.25 and a beta of 0.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. Occidental Petroleum has a twelve month low of $57.20 and a twelve month high of $73.51.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum’s dividend payout ratio is currently 440.00%.
Large investors have recently modified their holdings of the business. Barometer Capital Management Inc. bought a new position in Occidental Petroleum during the 3rd quarter valued at $12,213,000. BP PLC bought a new position in Occidental Petroleum during the 2nd quarter valued at $5,210,000. Federated Investors Inc. PA lifted its stake in Occidental Petroleum by 18.0% during the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after acquiring an additional 1,152,152 shares in the last quarter. BB&T Securities LLC lifted its stake in Occidental Petroleum by 71.1% during the 2nd quarter. BB&T Securities LLC now owns 452,611 shares of the oil and gas producer’s stock valued at $27,097,000 after acquiring an additional 188,009 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in Occidental Petroleum by 72.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 847,287 shares of the oil and gas producer’s stock valued at $50,831,000 after acquiring an additional 356,351 shares in the last quarter. Institutional investors and hedge funds own 80.34% of the company’s stock.
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Occidental Petroleum Company Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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