Occidental Petroleum (NYSE:OXY) Given New $65.00 Price Target at Susquehanna

by · The Markets Daily

Occidental Petroleum (NYSE:OXY – Free Report) had its price target decreased by Susquehanna from $77.00 to $65.00 in a research report released on Thursday,Benzinga reports. Susquehanna currently has a positive rating on the oil and gas producer’s stock.

Several other research firms also recently weighed in on OXY. TD Cowen reduced their target price on Occidental Petroleum from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday. Scotiabank decreased their price objective on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Raymond James cut their target price on shares of Occidental Petroleum from $85.00 to $77.00 and set a “buy” rating on the stock in a report on Tuesday. UBS Group lowered their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company cut their price target on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $63.70.

View Our Latest Report on OXY

Occidental Petroleum Stock Down 1.8 %

Shares of NYSE OXY traded down $0.91 during mid-day trading on Thursday, reaching $49.76. The company had a trading volume of 8,920,185 shares, compared to its average volume of 9,350,822. Occidental Petroleum has a 52-week low of $48.42 and a 52-week high of $71.18. The stock has a market cap of $46.69 billion, a P/E ratio of 13.05 and a beta of 1.58. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 0.96. The firm has a 50 day simple moving average of $51.84 and a two-hundred day simple moving average of $57.62.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.77%. Occidental Petroleum’s payout ratio is currently 22.92%.

Institutional Trading of Occidental Petroleum

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banco Santander S.A. lifted its stake in Occidental Petroleum by 75.0% in the first quarter. Banco Santander S.A. now owns 138,584 shares of the oil and gas producer’s stock valued at $9,007,000 after buying an additional 59,402 shares during the last quarter. Councilmark Asset Management LLC acquired a new stake in shares of Occidental Petroleum in the first quarter valued at approximately $254,000. Nicolet Advisory Services LLC acquired a new position in shares of Occidental Petroleum during the first quarter worth approximately $205,000. South Street Advisors LLC grew its holdings in Occidental Petroleum by 28.3% in the 1st quarter. South Street Advisors LLC now owns 156,920 shares of the oil and gas producer’s stock worth $10,198,000 after buying an additional 34,645 shares in the last quarter. Finally, Trustmark National Bank Trust Department raised its stake in Occidental Petroleum by 10.8% during the 1st quarter. Trustmark National Bank Trust Department now owns 33,098 shares of the oil and gas producer’s stock valued at $2,151,000 after acquiring an additional 3,238 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

Occidental Petroleum Company Profile

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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.

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