UBS Group Issues Pessimistic Forecast for Occidental Petroleum (NYSE:OXY) Stock Price

Occidental Petroleum (NYSE:OXY) had its target price lowered by UBS Group from $59.00 to $58.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

A number of other analysts have also commented on OXY. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Susquehanna reduced their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday, November 14th. Scotiabank reduced their target price on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Truist Financial dropped their price objective on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Finally, Mizuho dropped their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.70.

Occidental Petroleum Stock Up 1.2 %

Shares of NYSE OXY opened at $51.54 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.00 and a quick ratio of 0.76. Occidental Petroleum has a 12-month low of $48.42 and a 12-month high of $71.18. The company has a market capitalization of $48.36 billion, a PE ratio of 13.42 and a beta of 1.58. The firm’s 50-day moving average is $51.77 and its two-hundred day moving average is $57.11.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 annualized dividend and a yield of 1.71%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Institutional Trading of Occidental Petroleum

Several hedge funds and other institutional investors have recently bought and sold shares of OXY. Earnest Partners LLC grew its stake in Occidental Petroleum by 2.6% during the 1st quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer’s stock worth $445,000 after buying an additional 173 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Occidental Petroleum by 2.0% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock worth $573,000 after buying an additional 175 shares during the period. Atria Wealth Solutions Inc. increased its position in Occidental Petroleum by 0.6% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock valued at $1,735,000 after acquiring an additional 176 shares during the period. Raymond James Trust N.A. raised its stake in Occidental Petroleum by 1.0% during the 2nd quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock valued at $1,109,000 after acquiring an additional 182 shares in the last quarter. Finally, Gateway Advisory LLC boosted its position in Occidental Petroleum by 3.9% during the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after acquiring an additional 184 shares during the period. 88.70% of the stock is 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.