Occidental Petroleum (NYSE:OXY) Stock Price Down 2.2%

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price fell 2.2% during trading on Wednesday . The stock traded as low as $65.64 and last traded at $66.82. 12,447,987 shares traded hands during mid-day trading, an increase of 67% from the average session volume of 7,474,428 shares. The stock had previously closed at $68.34.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OXY. Morgan Stanley boosted their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. Barclays began coverage on Occidental Petroleum in a research report on Wednesday, April 10th. They issued an "equal weight" rating and a $73.00 price objective on the stock. Mizuho boosted their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, April 11th. Stephens reiterated an "overweight" rating and issued a $74.00 target price on shares of Occidental Petroleum in a research report on Thursday, February 15th. Finally, HSBC assumed coverage on Occidental Petroleum in a research report on Monday, April 8th. They issued a "hold" rating and a $65.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.06.

Occidental Petroleum Stock Down 1.3 %

The company has a 50 day simple moving average of $63.05 and a two-hundred day simple moving average of $61.09. 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 company has a market capitalization of $58.49 billion, a P/E ratio of 16.87 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. The firm had revenue of $7.53 billion for 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 company's quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.81 EPS for the current year.

Occidental Petroleum Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.33%. Occidental Petroleum's dividend payout ratio is currently 22.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OXY. Investment Research & Advisory Group Inc. grew its stake in shares of 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 valued at $25,000 after buying an additional 167 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in Occidental Petroleum in the third quarter worth approximately $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 bought a new position in Occidental Petroleum in the fourth quarter worth approximately $28,000. Finally, Grove Bank & Trust grew its stake in Occidental Petroleum by 86.0% in the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 240 shares in the last quarter. Institutional investors 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.