Occidental Petroleum Corporation (OXY) to Issue Quarterly Dividend of $0.26 on April 15th

Occidental Petroleum Corporation (NYSE:OXY) declared a quarterly dividend on Wednesday, February 18th. Shareholders of record on Tuesday, March 10th will be paid a dividend of 0.26 per share by the oil and gas producer on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, March 10th. This is a 8.3% increase from Occidental Petroleum’s previous quarterly dividend of $0.24.

Occidental Petroleum has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 5 years. Occidental Petroleum has a payout ratio of 32.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Occidental Petroleum to earn $3.85 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 27.0%.

Occidental Petroleum Stock Up 2.0%

Shares of Occidental Petroleum stock opened at $54.28 on Friday. The firm has a market cap of $53.53 billion, a price-to-earnings ratio of 33.71 and a beta of 0.34. The stock has a 50-day simple moving average of $46.06 and a 200-day simple moving average of $44.25. Occidental Petroleum has a 52-week low of $34.78 and a 52-week high of $56.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.94 and a quick ratio of 0.74.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.13. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $6.02 billion. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 earnings per share. On average, equities research analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current fiscal year.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.