Occidental Petroleum (NYSE:OXY) Shares Down 0%

Occidental Petroleum Co. (NYSE:OXY)’s stock price fell 0% during mid-day trading on Thursday . The company traded as low as $64.12 and last traded at $64.42. 1,449,292 shares were traded during mid-day trading, a decline of 83% from the average session volume of 8,469,518 shares. The stock had previously closed at $64.45.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OXY. Susquehanna upped their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Truist Financial upped their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Barclays assumed coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective for the company. Finally, Mizuho increased their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus price target of $71.94.

Occidental Petroleum Trading Up 0.7 %

The firm has a 50 day simple moving average of $64.63 and a 200 day simple moving average of $61.40. The firm has a market cap of $57.54 billion, a P/E ratio of 16.48 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm had revenue of $7.53 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter last year, the firm posted $1.61 EPS. The company’s revenue was down 9.6% compared to the same quarter last year. On average, equities research analysts predict that Occidental Petroleum Co. will post 3.85 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were issued a $0.22 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.36%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Institutional Trading of Occidental Petroleum

Several institutional investors and hedge funds have recently modified their holdings of the business. Investment Research & Advisory Group Inc. raised its holdings in shares of Occidental Petroleum by 75.2% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after buying an additional 167 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $26,000. Orion Capital Management LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $27,000. TLW Wealth Management LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at about $28,000. Finally, Grove Bank & Trust raised its holdings in shares of Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 240 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

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.