Occidental Petroleum (NYSE:OXY) Trading 0.1% Higher

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shares were up 0.1% during mid-day trading on Tuesday . The stock traded as high as $65.38 and last traded at $65.08. Approximately 1,548,816 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 8,417,023 shares. The stock had previously closed at $65.02.

Analyst Upgrades and Downgrades

OXY has been the subject of a number of research reports. Scotiabank raised Occidental Petroleum from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $63.00 to $90.00 in a report on Thursday, April 11th. Mizuho boosted their price objective on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Raymond James lowered their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th. Truist Financial boosted their price target on Occidental Petroleum from $77.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, April 5th. Finally, Barclays initiated coverage on Occidental Petroleum in a report on Wednesday, April 10th. They issued an "equal weight" rating and a $73.00 price objective for the company. Nine research 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 company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $71.94.

Occidental Petroleum Stock Performance

The firm has a market capitalization of $57.68 billion, a price-to-earnings ratio of 16.64 and a beta of 1.64. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The stock's 50-day moving average is $64.98 and its 200-day moving average is $61.34.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The company had revenue of $6.01 billion for the quarter, compared to analysts' expectations of $6.70 billion. During the same period in the previous year, the business posted $1.09 earnings per share. The business's quarterly revenue was down 17.2% compared to the same quarter last year. On average, analysts predict that Occidental Petroleum Co. will post 3.81 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 is Friday, June 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.35%. Occidental Petroleum's dividend payout ratio is 22.51%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OXY. Verdence Capital Advisors LLC boosted its holdings in Occidental Petroleum by 12.0% in the third quarter. Verdence Capital Advisors LLC now owns 8,894 shares of the oil and gas producer's stock valued at $577,000 after acquiring an additional 955 shares during the last quarter. Mackenzie Financial Corp raised its stake in Occidental Petroleum by 9.2% during the third quarter. Mackenzie Financial Corp now owns 31,651 shares of the oil and gas producer's stock worth $1,977,000 after buying an additional 2,668 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Occidental Petroleum by 4.2% in the third quarter. Chicago Partners Investment Group LLC now owns 4,904 shares of the oil and gas producer's stock valued at $308,000 after buying an additional 197 shares during the period. Joule Financial LLC bought a new stake in Occidental Petroleum during the third quarter valued at $693,000. Finally, Conning Inc. raised its position in shares of Occidental Petroleum by 3.6% in the 3rd quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer's stock worth $334,000 after acquiring an additional 180 shares in the last quarter. 88.70% of the stock is 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.