Occidental Petroleum (NYSE:OXY) Price Target Lowered to $67.00 at Wells Fargo & Company

Occidental Petroleum (NYSE:OXY – Get Rating) had its target price decreased by Wells Fargo & Company from $74.00 to $67.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the oil and gas producer’s stock.

Other equities analysts also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of Occidental Petroleum from $73.00 to $74.00 and gave the stock an equal weight rating in a report on Wednesday, December 14th. Mizuho reaffirmed a buy rating and set a $82.00 price objective (up from $81.00) on shares of Occidental Petroleum in a report on Tuesday. Jefferies Financial Group began coverage on shares of Occidental Petroleum in a report on Wednesday, October 19th. They set a hold rating on the stock. StockNews.com initiated coverage on shares of Occidental Petroleum in a report on Wednesday, October 12th. They set a hold rating on the stock. Finally, Barclays decreased their price target on Occidental Petroleum from $84.00 to $74.00 and set an overweight rating on the stock in a research report on Wednesday, December 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $77.18.

Occidental Petroleum Trading Up 0.1 %

OXY opened at $64.15 on Tuesday. The company’s 50 day moving average is $66.98 and its 200-day moving average is $65.70. Occidental Petroleum has a 1-year low of $31.37 and a 1-year high of $77.13. The company has a current ratio of 1.10, a quick ratio of 0.86 and a debt-to-equity ratio of 1.08. The company has a market cap of $58.31 billion, a P/E ratio of 5.34, a PEG ratio of 0.68 and a beta of 1.77.

Occidental Petroleum (NYSE:OXY – Get Rating) last issued its quarterly earnings results on Tuesday, November 8th. The oil and gas producer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.48 by ($0.04). The firm had revenue of $9.50 billion during the quarter, compared to analyst estimates of $9.35 billion. Occidental Petroleum had a return on equity of 59.90% and a net margin of 35.11%. Equities research analysts predict that Occidental Petroleum will post 9.63 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 12th. Stockholders of record on Monday, December 12th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, December 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.81%. Occidental Petroleum’s payout ratio is presently 4.33%.

Hedge Funds Weigh In On Occidental Petroleum

Several institutional investors and hedge funds have recently modified their holdings of OXY. Ironwood Wealth Management LLC. bought a new position in shares of Occidental Petroleum during the first quarter valued at $334,000. Cibc World Market Inc. increased its holdings in Occidental Petroleum by 47.2% in the 1st quarter. Cibc World Market Inc. now owns 55,697 shares of the oil and gas producer’s stock worth $3,160,000 after buying an additional 17,859 shares in the last quarter. Prudential PLC bought a new stake in Occidental Petroleum in the 1st quarter worth about $1,124,000. Sequoia Financial Advisors LLC bought a new stake in Occidental Petroleum in the 1st quarter worth about $313,000. Finally, Candriam Luxembourg S.C.A. increased its holdings in Occidental Petroleum by 12.4% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 54,540 shares of the oil and gas producer’s stock worth $3,094,000 after buying an additional 6,018 shares in the last quarter. 78.45% of the stock is currently owned by institutional investors.

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, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.