Occidental Petroleum (NYSE:OXY) Stock Price Down 1.4%

Occidental Petroleum Co. (NYSE:OXY) shares were down 1.4% during mid-day trading on Tuesday . The stock traded as low as $66.98 and last traded at $67.27. Approximately 1,767,528 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 8,483,511 shares. The stock had previously closed at $68.23.

Analyst Ratings Changes

OXY has been the topic of several research analyst reports. Susquehanna increased their price target on shares of Occidental Petroleum from $70.00 to $81.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Barclays initiated coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price target for the company. Morgan Stanley upped their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Mizuho lifted their target price on Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, StockNews.com upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Nine 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $71.94.

Occidental Petroleum Trading Up 0.3 %

The business has a 50-day simple moving average of $64.63 and a two-hundred day simple moving average of $61.40. The stock has a market cap of $57.32 billion, a price-to-earnings ratio of 16.48 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 announced its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the business posted $1.61 EPS. The business’s revenue was down 9.6% compared to the same quarter last year. Equities analysts forecast that Occidental Petroleum Co. will post 3.85 EPS for the current fiscal 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 paid a $0.22 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.36%. Occidental Petroleum’s dividend payout ratio is 22.51%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. increased its position in shares of Occidental Petroleum by 8.6% during the third quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock worth $10,139,000 after acquiring an additional 12,349 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Occidental Petroleum by 8.9% in the fourth quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock worth $343,000 after buying an additional 474 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Occidental Petroleum in the third quarter worth $29,665,000. Cullen Investment Group LTD. bought a new stake in shares of Occidental Petroleum during the 4th quarter valued at about $1,006,000. Finally, Koshinski Asset Management Inc. increased its holdings in shares of Occidental Petroleum by 53.9% in the 4th quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock worth $2,877,000 after buying an additional 16,871 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

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.