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

Occidental Petroleum (NYSE:OXY) had its price target upped by Jefferies Financial Group from $53.00 to $54.00 in a report published on Tuesday. The firm currently has a hold rating on the oil and gas producer’s stock.

Several other research firms have also recently commented on OXY. Evercore ISI lowered their target price on Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating for the company in a research note on Monday, September 30th. Mizuho cut their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Truist Financial decreased their price target 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. Barclays dropped their price objective on shares of Occidental Petroleum from $67.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, UBS Group lowered their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $64.55.

Occidental Petroleum Price Performance

OXY stock opened at $50.29 on Tuesday. The business’s fifty day moving average price is $52.07 and its 200 day moving average price is $57.84. Occidental Petroleum has a 12-month low of $49.51 and a 12-month high of $71.18. The company has a market capitalization of $45.54 billion, a PE ratio of 12.39 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77.

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

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given 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 1.75%. Occidental Petroleum’s dividend payout ratio (DPR) is 21.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Himalaya Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the second quarter worth about $92,433,000. Clean Energy Transition LLP purchased a new position in shares of Occidental Petroleum in the 1st quarter valued at approximately $67,601,000. Sarasin & Partners LLP acquired a new position in shares of Occidental Petroleum in the second quarter valued at approximately $63,880,000. Scharf Investments LLC purchased a new stake in shares of Occidental Petroleum during the second quarter worth approximately $42,744,000. Finally, American Century Companies Inc. lifted its holdings in shares of Occidental Petroleum by 16.8% during the second quarter. American Century Companies Inc. now owns 3,707,555 shares of the oil and gas producer’s stock worth $233,687,000 after purchasing an additional 532,318 shares during the period. 88.70% of the stock is owned by hedge funds and other 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.