Occidental Petroleum (NYSE:OXY) Shares Down 0.2% - Here's Why

On Tuesday, Occidental Petroleum (NYSE:OXY) experienced a slight decline, with its stock price falling by 0.2% during mid-day trading. The shares reached a low of $50.04 before closing at $50.34. A total of approximately 1,652,184 shares were exchanged, marking a significant decrease of 82% from its average daily volume of 9,319,778 shares, with the previous closing price recorded at $50.42.

Recent Analyst Ratings

Recent reports from various research analysts highlighted different perspectives on Occidental Petroleum's stock. For instance, Stephens raised its price target for the company from $70.00 to $71.00, assigning an "overweight" rating. Conversely, Citigroup lowered its price target from $57.00 to $56.00, maintaining a "neutral" rating. Wells Fargo & Company also reduced its target to $56.00 from $65.00, while Raymond James increased its target to $78.00 from $77.00, giving the stock a "strong-buy" rating. Additionally, Barclays adjusted its price target down to $58.00 from $67.00, keeping an "equal weight" rating. In terms of overall ratings, two analysts have given a sell rating, twelve have a hold rating, six have a buy rating, and one has a strong buy rating. The overall consensus for Occidental Petroleum currently stands at a "Hold" with an average price target of $63.25.

Performance Metrics

Occidental Petroleum's recent performance reflects a fifty-day moving average of $51.64 and a two-hundred-day moving average of $56.45. The company has a market capitalization of approximately $47.36 billion, a P/E ratio of 13.11, and a beta of 1.57. Furthermore, Occidental Petroleum has a debt-to-equity ratio of 0.96, a quick ratio of 0.76, and a current ratio of 1.00.

Dividend Details

Occidental Petroleum has recently announced a quarterly dividend distribution, scheduled for payment on January 15th to stockholders who are on record as of December 10th. The declared dividend is $0.22 per share, resulting in an annualized dividend yield of 1.74% with a payout ratio of 22.92%.

Institutional Investor Activity

Recent changes in ownership among institutional investors have come to light. For example, Fortitude Family Office LLC increased its shares in Occidental Petroleum by 160% during the third quarter, now holding 494 shares worth $25,000. Mizuho Securities and Transamerica Financial Advisors also invested new capital, acquiring stakes valued at $32,000 and $50,000, respectively. A significant 88.70% of the stock is now owned by institutional investors.

Company Overview

Occidental Petroleum is a corporation that engages in the acquisition, exploration, and development of oil and gas assets primarily in the United States and regions of the Middle East and North Africa. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. Its Oil and Gas division focuses on exploring, developing, and producing oil, natural gas liquids, and natural gas.

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