Occidental Petroleum Co. (OXY) to Issue Quarterly Dividend of $0.22 on January 15th

Occidental Petroleum Co. (NYSE:OXY) declared a quarterly dividend on Wednesday, November 6th,RTT News reports. Investors of record on Tuesday, December 10th will be paid a dividend of 0.22 per share by the oil and gas producer on Wednesday, January 15th. This represents a $0.88 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Tuesday, December 10th.

Occidental Petroleum has decreased its dividend payment by an average of 4.2% per year over the last three years. Occidental Petroleum has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Occidental Petroleum to earn $3.77 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 23.3%.

Occidental Petroleum Trading Down 0.4 %

Occidental Petroleum stock opened at $51.21 on Friday. The business’s 50-day simple moving average is $52.44 and its 200-day simple moving average is $58.25. Occidental Petroleum has a 52 week low of $49.51 and a 52 week high of $71.18. The firm has a market capitalization of $46.38 billion, a PE ratio of 12.61 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a return on equity of 17.91% and a net margin of 16.62%. The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the prior year, the business earned $0.68 earnings per share. Occidental Petroleum’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts forecast that Occidental Petroleum will post 3.29 earnings per share for the current year.

Insider Activity at Occidental Petroleum

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OXY shares. Mizuho lowered their price target on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Truist Financial cut their target price on Occidental Petroleum from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Monday, September 30th. Evercore ISI decreased their price target on shares of Occidental Petroleum from $67.00 to $63.00 and set an “underperform” rating on the stock in a research note on Monday, September 30th. Wolfe Research initiated coverage on shares of Occidental Petroleum in a report on Thursday, July 18th. They set an “outperform” rating and a $81.00 price objective for the company. Finally, Bank of America began coverage on shares of Occidental Petroleum in a research note on Thursday, October 17th. They issued a “neutral” rating and a $57.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $65.72.

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.