Analysts Set Occidental Petroleum Co. (OXY) Price Target at $70.07
Shares of Occidental Petroleum Co. (NYSE:OXY) have earned an average recommendation of “Hold” from the twenty-one ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $70.07.
Several research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Occidental Petroleum from $66.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Macquarie assumed coverage on Occidental Petroleum in a research note on Wednesday, January 17th. They issued a “neutral” rating for the company. Citigroup upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price target for the company in a research note on Monday, January 22nd. Cowen set a $85.00 price target on Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Mizuho set a $79.00 price target on Occidental Petroleum and gave the stock a “hold” rating in a research note on Tuesday, January 16th.
A number of institutional investors have recently bought and sold shares of the stock. State of Tennessee Treasury Department increased its position in Occidental Petroleum by 27.9% during the fourth quarter. State of Tennessee Treasury Department now owns 333,706 shares of the oil and gas producer’s stock valued at $24,581,000 after acquiring an additional 72,893 shares during the last quarter. Alexandria Capital LLC grew its holdings in Occidental Petroleum by 70,000.0% during the fourth quarter. Alexandria Capital LLC now owns 28,741 shares of the oil and gas producer’s stock valued at $2,117,000 after purchasing an additional 28,700 shares during the period. Timber Hill LLC bought a new stake in Occidental Petroleum during the fourth quarter valued at about $5,773,000. Norinchukin Bank The grew its holdings in Occidental Petroleum by 4.5% during the fourth quarter. Norinchukin Bank The now owns 99,979 shares of the oil and gas producer’s stock valued at $7,364,000 after purchasing an additional 4,262 shares during the period. Finally, FDx Advisors Inc. grew its holdings in Occidental Petroleum by 1.7% during the fourth quarter. FDx Advisors Inc. now owns 104,846 shares of the oil and gas producer’s stock valued at $7,723,000 after purchasing an additional 1,788 shares during the period. Institutional investors own 79.98% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 440.00%.
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Occidental Petroleum Company Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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