Occidental Petroleum Corporation (NYSE:OXY) Shares to Pay Quarterly Dividend of $0.28

Occidental Petroleum Corporation (NYSE:OXY) announced a quarterly dividend on Monday, October 26th. Investors of record on Thursday, December 10th will be paid a dividend of $0.28 per share by the oil and gas producer on Friday, January 15th. This represents a $1.12 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, December 10th.

Occidental Petroleum has a payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Occidental Petroleum to earn $5.14 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 21.8%.

Occidental Petroleum Stock Performance

Shares of Occidental Petroleum stock opened at $64.07 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. The stock has a market capitalization of $64.05 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.74 and a beta of 0.24. Occidental Petroleum has a 12 month low of $38.80 and a 12 month high of $67.45. The firm’s fifty day simple moving average is $59.83 and its 200-day simple moving average is $55.39.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. The business had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a return on equity of 15.31% and a net margin of 28.36%. The company’s revenue for the quarter was up 53.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. As a group, equities analysts forecast that Occidental Petroleum will post 6.84 earnings per share for the current year.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Evergreen Capital Management LLC boosted its position in Occidental Petroleum by 2.7% during the 3rd quarter. Evergreen Capital Management LLC now owns 5,929 shares of the oil and gas producer’s stock valued at $330,000 after buying an additional 155 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Occidental Petroleum by 12.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,765 shares of the oil and gas producer’s stock worth $111,000 after buying an additional 196 shares during the last quarter. Venture Visionary Partners LLC raised its holdings in Occidental Petroleum by 2.2% in the third quarter. Venture Visionary Partners LLC now owns 9,639 shares of the oil and gas producer’s stock worth $533,000 after buying an additional 203 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in shares of Occidental Petroleum by 15.8% in the second quarter. Elevation Wealth Partners LLC now owns 1,615 shares of the oil and gas producer’s stock worth $78,000 after buying an additional 220 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its stake in shares of Occidental Petroleum by 2.8% in the second quarter. HBK Sorce Advisory LLC now owns 8,210 shares of the oil and gas producer’s stock worth $442,000 after buying an additional 220 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

About Occidental Petroleum

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.