Occidental Petroleum (NYSE:OXY) Shares Up 0.7% – Time to Buy?

Occidental Petroleum Co. (NYSE:OXY) was up 0.7% during mid-day trading on Friday . The stock traded as high as $50.77 and last traded at $50.67. Approximately 1,376,457 shares traded hands during trading, a decline of 85% from the average daily volume of 9,348,053 shares. The stock had previously closed at $50.32.

Analyst Ratings Changes

Several research analysts recently issued reports on OXY shares. BMO Capital Markets cut their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating on the stock in a research note on Friday, October 4th. Susquehanna dropped their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. Wolfe Research raised their price objective on shares of Occidental Petroleum from $73.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Wells Fargo & Company dropped their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Finally, Scotiabank dropped their price objective on shares of Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.25.

Occidental Petroleum Trading Up 0.5 %

The company has a market cap of $47.45 billion, a PE ratio of 13.20 and a beta of 1.58. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. The firm’s 50 day moving average is $51.66 and its 200 day moving average is $56.63.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.74%. Occidental Petroleum’s payout ratio is presently 22.92%.

Institutional Investors Weigh In On Occidental Petroleum

Several hedge funds have recently bought and sold shares of OXY. B. Riley Wealth Advisors Inc. lifted its position in Occidental Petroleum by 16.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 20,084 shares of the oil and gas producer’s stock valued at $1,306,000 after purchasing an additional 2,780 shares during the last quarter. Citizens Financial Group Inc. RI lifted its holdings in shares of Occidental Petroleum by 16.9% in the 1st quarter. Citizens Financial Group Inc. RI now owns 4,245 shares of the oil and gas producer’s stock worth $276,000 after acquiring an additional 614 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Occidental Petroleum in the 1st quarter worth approximately $44,000. Swedbank AB bought a new stake in shares of Occidental Petroleum in the 1st quarter worth approximately $12,547,000. Finally, Atria Investments Inc increased its stake in shares of Occidental Petroleum by 4.2% in the first quarter. Atria Investments Inc now owns 91,676 shares of the oil and gas producer’s stock worth $5,957,000 after buying an additional 3,674 shares during the period. 88.70% of the stock is currently owned by institutional investors.

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.