Occidental Petroleum (NYSE:OXY) Stock Price Down 0.2% – Time to Sell?

Occidental Petroleum Co. (NYSE:OXY)’s share price fell 0.2% during mid-day trading on Thursday . The company traded as low as $48.70 and last traded at $48.79. 2,866,941 shares were traded during mid-day trading, a decline of 69% from the average session volume of 9,334,063 shares. The stock had previously closed at $48.90.

Analysts Set New Price Targets

OXY has been the topic of several research reports. Mizuho cut their price objective on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Raymond James upped their price target on shares of Occidental Petroleum from $77.00 to $78.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 21st. UBS Group reduced their target price on shares of Occidental Petroleum from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research note on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target on the stock. Finally, Wolfe Research increased their price objective on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $63.25.

Occidental Petroleum Trading Down 0.3 %

The company has a fifty day simple moving average of $51.52 and a 200-day simple moving average of $56.22. The stock has a market cap of $45.73 billion, a price-to-earnings ratio of 12.71 and a beta of 1.57. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 0.96.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.92%.

Institutional Trading of Occidental Petroleum

Several hedge funds and other institutional investors have recently modified their holdings of the business. Commerzbank Aktiengesellschaft FI boosted its position in Occidental Petroleum by 2.0% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer’s stock worth $573,000 after acquiring an additional 175 shares during the period. Atria Wealth Solutions Inc. grew its position in Occidental Petroleum by 0.6% during the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer’s stock valued at $1,735,000 after purchasing an additional 176 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of Occidental Petroleum by 1.0% in the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer’s stock worth $1,109,000 after acquiring an additional 182 shares during the last quarter. Gateway Advisory LLC increased its position in Occidental Petroleum by 3.9% in the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer’s stock worth $306,000 after purchasing an additional 184 shares during the last quarter. Finally, Joule Financial LLC grew its stake in shares of Occidental Petroleum by 2.5% in the 2nd quarter. Joule Financial LLC now owns 7,863 shares of the oil and gas producer’s stock valued at $497,000 after buying an additional 191 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

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.