Occidental Petroleum (NYSE:OXY) Issues Earnings Results

Occidental Petroleum (NYSE:OXY) announced its quarterly earnings results on Monday. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.16, Zacks reports. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%.

Occidental Petroleum Trading Up 1.2%

Shares of NYSE:OXY traded up $0.48 during trading on Monday, hitting $41.79. The company had a trading volume of 11,874,924 shares, compared to its average volume of 11,487,344. The stock has a market cap of $41.14 billion, a price-to-earnings ratio of 24.73 and a beta of 0.91. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The company has a fifty day simple moving average of $44.22 and a two-hundred day simple moving average of $43.68. Occidental Petroleum has a one year low of $34.78 and a one year high of $53.20.

Occidental Petroleum Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 10th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio is 56.80%.

Institutional Trading of Occidental Petroleum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Headlands Technologies LLC purchased a new position in shares of Occidental Petroleum during the second quarter valued at approximately $75,000. MUFG Securities EMEA plc purchased a new stake in shares of Occidental Petroleum in the second quarter worth approximately $88,000. Voleon Capital Management LP bought a new stake in shares of Occidental Petroleum during the 2nd quarter worth approximately $228,000. Modern Wealth Management LLC boosted its holdings in Occidental Petroleum by 6.9% during the 2nd quarter. Modern Wealth Management LLC now owns 6,872 shares of the oil and gas producer’s stock valued at $289,000 after acquiring an additional 442 shares during the period. Finally, Evergreen Capital Management LLC grew its position in Occidental Petroleum by 8.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,986 shares of the oil and gas producer’s stock valued at $295,000 after acquiring an additional 520 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OXY has been the topic of several analyst reports. Mizuho raised Occidental Petroleum from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $58.00 to $60.00 in a research report on Friday, October 3rd. Hsbc Global Res raised shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. UBS Group cut their price target on Occidental Petroleum from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, October 3rd. Susquehanna decreased their price objective on shares of Occidental Petroleum from $55.00 to $54.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Finally, Wall Street Zen cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, fifteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $52.26.

About Occidental Petroleum

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.