Occidental Petroleum (NYSE:OXY) Price Target Raised to $54.00 at Jefferies Financial Group

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

Other research analysts also recently issued reports about the company. Scotiabank reduced their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Evercore ISI decreased their price objective on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a report on Monday, September 30th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $56.00 target price on shares of Occidental Petroleum in a research note on Friday, November 8th. Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Friday, September 27th. Finally, Susquehanna lowered their price objective on Occidental Petroleum from $78.00 to $77.00 and set a “positive” rating on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $64.55.

Occidental Petroleum Stock Down 1.0 %

OXY opened at $50.29 on Tuesday. The company has a fifty day moving average of $52.07 and a two-hundred day moving average of $57.84. The stock has a market capitalization of $45.54 billion, a price-to-earnings ratio of 12.39 and a beta of 1.58. Occidental Petroleum has a fifty-two week low of $49.51 and a fifty-two week high of $71.18. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, November 12th. The oil and gas producer reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.20. The firm had revenue of $7.15 billion during the quarter, compared to analyst estimates of $7.40 billion. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. On average, research analysts expect that Occidental Petroleum will post 3.29 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 yield of 1.75%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s payout ratio is currently 21.67%.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC raised its position in shares of Occidental Petroleum by 160.0% during the 3rd quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 304 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in Occidental Petroleum during the third quarter worth $32,000. New Covenant Trust Company N.A. purchased a new stake in Occidental Petroleum in the first quarter valued at $44,000. LRI Investments LLC purchased a new position in shares of Occidental Petroleum during the 1st quarter worth $44,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Occidental Petroleum during the 2nd quarter worth about $53,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.