Occidental Petroleum (NYSE:OXY) Trading Up 1.7%

Shares of Occidental Petroleum Co. (NYSE:OXY) were up 1.7% on Monday . The stock traded as high as $65.78 and last traded at $65.50. Approximately 2,333,073 shares were traded during trading, a decline of 72% from the average daily volume of 8,426,712 shares. The stock had previously closed at $64.39.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on OXY shares. Raymond James reduced their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Wells Fargo & Company increased their price target on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $63.00 to $90.00 in a research report on Thursday, April 11th. Truist Financial increased their price target on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Finally, Susquehanna increased their price target on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Stock Performance

The stock has a 50 day simple moving average of $64.80 and a 200 day simple moving average of $61.35. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The stock has a market cap of $57.64 billion, a P/E ratio of 16.65 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last issued its earnings results 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. The firm had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 EPS. On average, equities analysts expect that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

Institutional Investors Weigh In On Occidental Petroleum

A number of large investors have recently modified their holdings of the business. Investment Research & Advisory Group Inc. boosted its holdings in shares of Occidental Petroleum by 75.2% during 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 acquired a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $26,000. Orion Capital Management LLC acquired a new stake in shares of Occidental Petroleum during the 3rd quarter valued at $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the 4th quarter worth about $28,000. Finally, Grove Bank & Trust lifted its holdings in 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 buying an additional 240 shares during the period. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

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.