Occidental Petroleum (NYSE:OXY) Stock Price Down 0.3%

Occidental Petroleum Co. (NYSE:OXY)’s stock price fell 0.3% during trading on Wednesday . The company traded as low as $66.75 and last traded at $67.19. 1,339,772 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 8,636,546 shares. The stock had previously closed at $67.39.

Analyst Ratings Changes

A number of brokerages have recently commented on OXY. Morgan Stanley increased their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Mizuho increased their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Stephens reissued an “overweight” rating and issued a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. Barclays began coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price target on the stock. Finally, Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $63.00 to $90.00 in a report on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Price Performance

The firm’s 50-day moving average is $64.12 and its two-hundred day moving average is $61.34. The company has a market cap of $60.15 billion, a P/E ratio of 17.36 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business had revenue of $7.53 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the business posted $1.61 earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year. Analysts anticipate that Occidental Petroleum Co. will post 3.85 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were issued a $0.22 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.30%. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

Institutional Trading of Occidental Petroleum

Hedge funds have recently added to or reduced their stakes in the business. Investment Research & Advisory Group Inc. lifted its stake in Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after acquiring an additional 167 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum during the third quarter valued at about $26,000. Orion Capital Management LLC purchased a new stake in shares of Occidental Petroleum during the third quarter valued at about $27,000. TLW Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter valued at about $28,000. Finally, Grove Bank & Trust lifted its position in shares of Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 240 shares during the last quarter. 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.