Occidental Petroleum (NYSE:OXY) had its target price hoisted by JPMorgan Chase & Co. from $74.00 to $75.00 in a research report sent to investors on Thursday. They currently have a neutral rating on the oil and gas producer’s stock.
OXY has been the subject of a number of other reports. Morgan Stanley boosted their target price on shares of Occidental Petroleum from $62.00 to $66.00 and gave the company an equal weight rating in a report on Wednesday, October 18th. Bank of America downgraded shares of Occidental Petroleum from a buy rating to a neutral rating and set a $80.00 target price for the company. in a report on Thursday, January 4th. They noted that the move was a valuation call. Macquarie started coverage on shares of Occidental Petroleum in a report on Wednesday, January 17th. They issued a neutral rating for the company. Goldman Sachs Group upgraded shares of Occidental Petroleum from a neutral rating to a buy rating in a report on Friday, November 17th. Finally, Cowen set a $85.00 price target on shares of Occidental Petroleum and gave the company a buy rating in a research report on Thursday, January 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $70.60.
Shares of Occidental Petroleum (OXY) opened at $68.16 on Thursday. Occidental Petroleum has a twelve month low of $57.20 and a twelve month high of $78.09. The stock has a market cap of $52,160.00, a P/E ratio of 96.00, a P/E/G ratio of 4.23 and a beta of 0.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 0.95.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.52%. Occidental Petroleum’s dividend payout ratio (DPR) is 433.80%.
Several hedge funds and other institutional investors have recently bought and sold shares of OXY. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Occidental Petroleum by 21.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock worth $1,418,851,000 after purchasing an additional 3,366,402 shares in the last quarter. Millennium Management LLC lifted its position in shares of Occidental Petroleum by 2,791.8% during the fourth quarter. Millennium Management LLC now owns 1,989,031 shares of the oil and gas producer’s stock worth $146,512,000 after purchasing an additional 1,920,249 shares in the last quarter. Epoch Investment Partners Inc. lifted its position in shares of Occidental Petroleum by 22.0% during the third quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock worth $520,341,000 after purchasing an additional 1,461,761 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Occidental Petroleum by 275.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,985,993 shares of the oil and gas producer’s stock worth $146,288,000 after purchasing an additional 1,456,337 shares in the last quarter. Finally, Tide Point Capital Management LP acquired a new position in shares of Occidental Petroleum during the fourth quarter worth $82,756,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.
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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