Occidental Petroleum (NYSE:OXY) Stock Price Down 0.2% – Here’s What Happened

Shares of Occidental Petroleum Co. (NYSE:OXY) were down 0.2% during mid-day trading on Tuesday . The company traded as low as $50.04 and last traded at $50.34. Approximately 1,652,184 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 9,319,778 shares. The stock had previously closed at $50.42.

Analyst Ratings Changes

A number of equities research analysts have issued reports on OXY shares. Susquehanna cut their price target on Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating for the company in a research note on Thursday, November 14th. Wolfe Research increased their price target on Occidental Petroleum from $73.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Mizuho dropped their price objective on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Citigroup dropped their price objective on shares of Occidental Petroleum from $57.00 to $56.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group started coverage on shares of Occidental Petroleum in a report on Wednesday, October 2nd. They set a “neutral” rating and a $55.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.25.

Occidental Petroleum Trading Up 0.1 %

The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The firm has a market cap of $47.36 billion, a P/E ratio of 13.11 and a beta of 1.57. The company’s 50 day simple moving average is $51.64 and its 200-day simple moving average is $56.45.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Tuesday, December 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Hedge Funds Weigh In On Occidental Petroleum

A number of institutional investors have recently modified their holdings of OXY. H&H International Investment LLC increased its position in shares of Occidental Petroleum by 497.7% during the third quarter. H&H International Investment LLC now owns 9,223,700 shares of the oil and gas producer’s stock worth $475,389,000 after acquiring an additional 7,680,598 shares during the period. Himalaya Capital Management LLC purchased a new position in shares of Occidental Petroleum during the second quarter worth approximately $92,433,000. Sarasin & Partners LLP purchased a new position in shares of Occidental Petroleum during the second quarter worth approximately $63,880,000. Anson Funds Management LP increased its position in shares of Occidental Petroleum by 3,645.8% during the third quarter. Anson Funds Management LP now owns 765,486 shares of the oil and gas producer’s stock worth $39,453,000 after acquiring an additional 745,050 shares during the period. Finally, Scharf Investments LLC purchased a new position in shares of Occidental Petroleum during the second quarter worth approximately $42,744,000. 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.