Susquehanna Issues Pessimistic Forecast for Occidental Petroleum (NYSE:OXY) Stock Price

Occidental Petroleum (NYSE:OXY) had its target price lowered by Susquehanna from $77.00 to $65.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a positive rating on the oil and gas producer’s stock.

OXY has been the topic of several other research reports. Stephens raised their target price on shares of Occidental Petroleum from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their target price on shares of Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. Truist Financial cut their price target on shares of Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating on the stock in a research report on Monday, September 30th. The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a “neutral” rating and a $55.00 price target on the stock. Finally, Mizuho cut their price target on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. One equities 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, the company currently has a consensus rating of “Hold” and an average target price of $63.70.

Occidental Petroleum Stock Down 1.4 %

Shares of NYSE OXY opened at $49.97 on Thursday. The firm has a market capitalization of $46.89 billion, a PE ratio of 13.01 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. Occidental Petroleum has a 1 year low of $48.42 and a 1 year high of $71.18. The firm’s 50-day moving average is $51.80 and its 200-day moving average is $57.38.

Occidental Petroleum Dividend Announcement

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 paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.76%. Occidental Petroleum’s dividend payout ratio is currently 22.92%.

Hedge Funds Weigh In On Occidental Petroleum

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