Occidental Petroleum (NYSE:OXY) Trading Up 1.7%

Occidental Petroleum Co. (NYSE:OXY)’s stock price was up 1.7% during mid-day trading on Monday . The company traded as high as $65.78 and last traded at $65.50. Approximately 2,333,073 shares traded hands during trading, a decline of 72% from the average daily volume of 8,426,712 shares. The stock had previously closed at $64.39.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OXY shares. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Barclays started coverage on Occidental Petroleum in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $74.00 target price on shares of Occidental Petroleum in a research note on Thursday, February 15th. Morgan Stanley raised their target price on Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Susquehanna raised their target price on Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Price Performance

The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The firm has a fifty day moving average price of $64.80 and a two-hundred day moving average price of $61.35. The stock has a market capitalization of $57.64 billion, a P/E ratio of 16.65 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last issued 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 during the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the company earned $1.61 earnings per share. The company’s revenue was down 9.6% on a year-over-year basis. On average, analysts expect that Occidental Petroleum Co. will post 3.81 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be issued a $0.22 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.88 annualized dividend and a yield of 1.35%. Occidental Petroleum’s payout ratio is 22.51%.

Institutional Investors Weigh In On Occidental Petroleum

Several large investors have recently bought and sold shares of the business. Oxbow Advisors LLC grew its stake in shares of Occidental Petroleum by 71.1% during the 1st quarter. Oxbow Advisors LLC now owns 6,015 shares of the oil and gas producer’s stock valued at $391,000 after purchasing an additional 2,500 shares during the period. Mitchell Capital Management Co. grew its stake in shares of Occidental Petroleum by 2.3% during the 1st quarter. Mitchell Capital Management Co. now owns 103,911 shares of the oil and gas producer’s stock valued at $6,753,000 after purchasing an additional 2,363 shares during the period. Avidian Wealth Solutions LLC bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at about $206,000. Mediolanum International Funds Ltd bought a new stake in shares of Occidental Petroleum during the 1st quarter valued at about $1,055,000. Finally, Wellington Shields Capital Management LLC grew its stake in shares of Occidental Petroleum by 36.7% during the 1st quarter. Wellington Shields Capital Management LLC now owns 8,575 shares of the oil and gas producer’s stock valued at $557,000 after purchasing an additional 2,300 shares during the period. 88.70% of the stock is currently owned by institutional investors.

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.