Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) traded down 0% during mid-day trading on Monday . The company traded as low as $67.35 and last traded at $67.75. 1,622,801 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 8,517,419 shares. The stock had previously closed at $67.78.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Raymond James reduced their target price on Occidental Petroleum from $70.00 to $68.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, January 24th. HSBC started coverage on Occidental Petroleum in a research note on Monday, April 8th. They set a "hold" rating and a $65.00 price target on the stock. Susquehanna increased their price target on Occidental Petroleum from $70.00 to $81.00 and gave the stock a "positive" rating in a research note on Monday, April 22nd. StockNews.com raised Occidental Petroleum from a "sell" rating to a "hold" rating in a research note on Friday, March 15th. Finally, Stephens reissued an "overweight" rating and set a $74.00 price target on shares of Occidental Petroleum in a research note on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and an average target price of $71.94.
Get Our Latest Analysis on OXY
Occidental Petroleum Stock Up 0.7 %
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 firm has a market capitalization of $60.48 billion, a PE ratio of 17.45 and a beta of 1.64. The firm has a 50-day moving average of $64.42 and a two-hundred day moving average of $61.37.
Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the firm earned $1.61 EPS. The firm's quarterly revenue was down 9.6% compared to the same quarter last year. On average, equities research analysts forecast that Occidental Petroleum Co. will post 3.85 EPS for the current year.
Occidental Petroleum Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were issued a $0.22 dividend. This is an increase from Occidental Petroleum's previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a yield of 1.29%. The ex-dividend date was Thursday, March 7th. Occidental Petroleum's dividend payout ratio is currently 22.51%.
Institutional Trading of Occidental Petroleum
Several large investors have recently added to or reduced their stakes in the stock. Berkshire Hathaway Inc grew its stake in shares of Occidental Petroleum by 8.7% during the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer's stock valued at $14,552,271,000 after acquiring an additional 19,586,612 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Occidental Petroleum by 24.1% during the third quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer's stock valued at $779,983,000 after acquiring an additional 2,334,651 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Occidental Petroleum by 600.4% during the third quarter. American Century Companies Inc. now owns 2,242,910 shares of the oil and gas producer's stock valued at $145,520,000 after acquiring an additional 1,922,656 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Occidental Petroleum by 22.2% during the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer's stock valued at $357,977,000 after acquiring an additional 1,088,052 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd grew its stake in shares of Occidental Petroleum by 51.7% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer's stock valued at $139,749,000 after acquiring an additional 797,894 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Occidental Petroleum Company Profile
(
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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.
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