Occidental Petroleum (NYSE:OXY) Trading 0.1% Higher

Occidental Petroleum Co. (NYSE:OXY)’s stock price was up 0.1% during trading on Tuesday . The stock traded as high as $65.38 and last traded at $65.08. Approximately 1,548,816 shares traded hands during trading, a decline of 82% from the average daily volume of 8,417,023 shares. The stock had previously closed at $65.02.

Analyst Ratings Changes

A number of research analysts have recently commented on OXY shares. Barclays started coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target for the company. Raymond James reduced their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Morgan Stanley upped their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $63.00 to $90.00 in a report on Thursday, April 11th. Finally, Mizuho raised their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.94.

Occidental Petroleum Stock Up 0.1 %

The company has a market cap of $57.68 billion, a P/E ratio of 16.66 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. The company’s 50-day moving average is $64.89 and its two-hundred day moving average is $61.34.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $7.53 billion for the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. Occidental Petroleum’s revenue was down 9.6% compared to the same quarter last year. During the same period last year, the firm posted $1.61 earnings per share. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

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

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors and hedge funds have recently modified their holdings of the company. Investment Research & Advisory Group Inc. boosted its position 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 purchasing an additional 167 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Occidental Petroleum during the third quarter valued at approximately $26,000. Orion Capital Management LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter worth $27,000. TLW Wealth Management LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at $28,000. Finally, Grove Bank & Trust increased its stake in shares of Occidental Petroleum by 86.0% in 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. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.