Occidental Petroleum (NYSE:OXY) Trading Down 1.4%

Occidental Petroleum Co. (NYSE:OXY) shares were down 1.4% during trading on Tuesday . The company traded as low as $66.98 and last traded at $67.27. Approximately 1,767,528 shares changed hands 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on OXY shares. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Stephens reiterated an “overweight” rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research note on Thursday, February 15th. Susquehanna increased 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. HSBC assumed coverage on Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 price target for the company. Finally, Mizuho increased their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Nine equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Price Performance

The company’s 50 day moving average price is $64.63 and its 200 day moving average price is $61.40. The firm has a market capitalization of $57.32 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 current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) 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 business had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the firm earned $1.61 EPS. Occidental Petroleum’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.85 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Monday, June 10th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Institutional Trading of Occidental Petroleum

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Investment Research & Advisory Group Inc. raised its stake 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 acquiring an additional 167 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $26,000. Orion Capital Management LLC bought a new position in Occidental Petroleum in the third quarter worth approximately $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the 4th quarter valued at about $28,000. Finally, Grove Bank & Trust raised its position in Occidental Petroleum by 86.0% in 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 during the last quarter. Institutional investors and hedge funds 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.