Occidental Petroleum (NYSE:OXY) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of Occidental Petroleum (NYSE:OXY) from a hold rating to a sell rating in a research report released on Wednesday.

A number of other research analysts have also commented on OXY. Jefferies Financial Group boosted their price target on shares of Occidental Petroleum from $53.00 to $54.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company decreased their price objective on shares of Occidental Petroleum from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Citigroup decreased their price target on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Susquehanna dropped their price objective on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a report on Thursday, November 14th. Finally, The Goldman Sachs Group started coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.65.

Occidental Petroleum Stock Down 1.2 %

OXY opened at $46.02 on Wednesday. The company has a market cap of $43.18 billion, a PE ratio of 11.98 and a beta of 1.57. The company has a 50 day moving average of $50.37 and a 200 day moving average of $55.20. Occidental Petroleum has a 12 month low of $45.79 and a 12 month high of $71.18. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.91%. Occidental Petroleum’s dividend payout ratio is presently 22.92%.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC boosted its holdings in shares of Occidental Petroleum by 160.0% in the third quarter. Fortitude Family Office LLC now owns 494 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 304 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum during the third quarter valued at about $32,000. Transamerica Financial Advisors Inc. purchased a new position in shares of Occidental Petroleum in the third quarter valued at about $50,000. Strategic Financial Concepts LLC bought a new position in shares of Occidental Petroleum in the second quarter worth about $53,000. Finally, LRI Investments LLC grew its position in shares of Occidental Petroleum by 34.6% during the second quarter. LRI Investments LLC now owns 906 shares of the oil and gas producer’s stock worth $57,000 after purchasing an additional 233 shares in the last quarter. 88.70% of the stock is owned by institutional investors.

Occidental Petroleum Company Profile

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.