Occidental Petroleum (NYSE:OXY) Shares Down 0.3%

Occidental Petroleum Co. (NYSE:OXY)’s stock price fell 0.3% during mid-day trading on Thursday . The company traded as low as $66.99 and last traded at $67.14. 1,586,489 shares were traded during trading, a decline of 82% from the average session volume of 8,598,132 shares. The stock had previously closed at $67.33.

Analysts Set New Price Targets

OXY has been the subject of a number of research analyst reports. Barclays initiated coverage on Occidental Petroleum in a report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 target price for the company. StockNews.com upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. HSBC initiated coverage on Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. Susquehanna raised their target price on Occidental Petroleum from $70.00 to $81.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Finally, Truist Financial raised their target price on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a report on Friday, April 5th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $71.94.

Occidental Petroleum Stock Performance

The firm has a 50 day moving average of $64.27 and a two-hundred day moving average of $61.37. The stock has a market cap of $60.08 billion, a PE ratio of 17.34 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm’s revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 earnings per share. 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 announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were paid a dividend of $0.22 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 7th. This represents a $0.88 annualized dividend and a yield of 1.30%. Occidental Petroleum’s payout ratio is presently 22.51%.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors have recently added to or reduced their stakes in the business. Investment Research & Advisory Group Inc. increased its position in Occidental Petroleum by 75.2% during the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock worth $25,000 after buying an additional 167 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Occidental Petroleum during the third quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in Occidental Petroleum during the third quarter worth approximately $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the fourth quarter worth approximately $28,000. Finally, Grove Bank & Trust increased its position in Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 240 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

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.