Occidental Petroleum Co. (NYSE:OXY) Plans $0.79 Quarterly Dividend

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Occidental Petroleum Co. (NYSE:OXY) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Shareholders of record on Tuesday, December 10th will be given a dividend of 0.79 per share by the oil and gas producer on Wednesday, January 15th. This represents a $3.16 dividend on an annualized basis and a yield of 8.10%. The ex-dividend date is Monday, December 9th.

Shares of NYSE OXY opened at $39.01 on Friday. Occidental Petroleum has a 1 year low of $37.54 and a 1 year high of $68.83. The firm has a market cap of $34.85 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 4.28 and a beta of 0.85. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.23 and a current ratio of 1.33. The stock’s 50-day simple moving average is $40.09 and its 200-day simple moving average is $45.73.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.30). Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same period in the prior year, the company posted $1.77 EPS. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. As a group, research analysts predict that Occidental Petroleum will post 1.8 EPS for the current year.

OXY has been the topic of a number of recent analyst reports. Wells Fargo & Co cut their target price on Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, August 16th. Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research report on Tuesday, August 27th. They set a “neutral” rating and a $52.50 price target for the company. Tudor Pickering lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating and set a $36.00 price target for the company. in a research note on Monday, November 11th. ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Piper Jaffray Companies set a $59.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a report on Friday, August 16th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $58.03.

In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $45.54 per share, with a total value of $227,700.00. Following the completion of the acquisition, the director now directly owns 101,203 shares of the company’s stock, valued at approximately $4,608,784.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Klesse bought 12,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $39.31 per share, for a total transaction of $471,720.00. Following the acquisition, the director now directly owns 113,203 shares of the company’s stock, valued at $4,450,009.93. The disclosure for this purchase can be found here. Insiders have purchased 28,000 shares of company stock worth $1,122,760 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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Dividend History for Occidental Petroleum (NYSE:OXY)

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