Occidental Petroleum (NYSE:OXY) Trading 0.4% Higher

Occidental Petroleum Co. (NYSE:OXY) traded up 0.4% during mid-day trading on Thursday . The company traded as high as $66.38 and last traded at $66.23. 2,008,683 shares were traded during trading, a decline of 77% from the average session volume of 8,725,748 shares. The stock had previously closed at $65.98.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. HSBC assumed coverage on Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 price objective for the company. Morgan Stanley lifted their price target on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Stephens reaffirmed an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Raymond James cut their price target on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $72.06.

Occidental Petroleum Price Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. The company has a 50-day moving average of $63.39 and a 200-day moving average of $61.16. The firm has a market capitalization of $59.07 billion, a price-to-earnings ratio of 17.04 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the firm earned $1.61 EPS. Occidental Petroleum’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.74 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were paid a $0.22 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.88 annualized dividend and a yield of 1.32%. Occidental Petroleum’s payout ratio is presently 22.51%.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors have recently bought and sold shares of the company. Investment Research & Advisory Group Inc. lifted its stake in Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after acquiring an additional 167 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $26,000. Orion Capital Management LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $27,000. TLW Wealth Management LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $28,000. Finally, Grove Bank & Trust raised its stake in shares of Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 240 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.

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.