Occidental Petroleum Corporation Plans Quarterly Dividend of $0.26 (NYSE:OXY)

Occidental Petroleum Corporation (NYSE:OXY) declared a quarterly dividend on Thursday, April 30th. Stockholders of record on Wednesday, June 10th will be given a dividend of 0.26 per share by the oil and gas producer on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, June 10th.

Occidental Petroleum has increased its dividend payment by an average of 0.0%annually over the last three years and has raised 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 analysts expect Occidental Petroleum to earn $3.38 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 30.8%.

Occidental Petroleum Price Performance

Shares of OXY stock traded down $2.51 during trading hours on Friday, reaching $58.07. The stock had a trading volume of 1,366,696 shares, compared to its average volume of 15,536,287. The stock’s fifty day simple moving average is $57.77 and its 200 day simple moving average is $47.79. The company has a current ratio of 0.94, a quick ratio of 0.74 and a debt-to-equity ratio of 0.73. Occidental Petroleum has a 12 month low of $38.72 and a 12 month high of $67.45. The firm has a market capitalization of $57.59 billion, a PE ratio of 36.30 and a beta of 0.23.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, February 18th. The oil and gas producer reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.13. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The company had revenue of $5.11 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period last year, the business earned $0.80 earnings per share. Occidental Petroleum’s revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts predict that Occidental Petroleum will post 4.54 EPS for the current year.

Analysts Set New Price Targets

OXY has been the subject of a number of analyst reports. HSBC raised their price objective on shares of Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, March 20th. TD Cowen lifted their price target on shares of Occidental Petroleum from $48.00 to $54.00 and gave the stock a “hold” rating in a research note on Monday, February 23rd. Zacks Research raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 31st. Susquehanna lifted their price target on shares of Occidental Petroleum from $60.00 to $67.00 and gave the stock a “positive” rating in a research note on Tuesday, April 21st. Finally, Barclays lifted their price target on shares of Occidental Petroleum from $55.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $61.83.

Occidental Petroleum Company Profile

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.