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

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price dropped 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 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 Analyst Weigh In

A number of research firms have commented on OXY. StockNews.com raised shares of Occidental Petroleum from a "sell" rating to a "hold" rating in a research report on Friday, March 15th. Barclays initiated coverage on shares of Occidental Petroleum in a report on Wednesday, April 10th. They set an "equal weight" rating and a $73.00 price objective on the stock. Mizuho upped 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. Truist Financial lifted their price target on Occidental Petroleum from $77.00 to $84.00 and gave the company a "buy" rating in a report on Friday, April 5th. Finally, Stephens reissued an "overweight" rating and issued a $74.00 price target on shares of Occidental Petroleum in a research report on Thursday, February 15th. Nine equities research 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's stock. Based on data from MarketBeat.com, Occidental Petroleum currently has a consensus rating of "Hold" and an average target price of $71.94.

Occidental Petroleum Trading Down 3.0 %

The company's fifty day moving average price is $64.55 and its 200-day moving average price is $61.38. The stock has a market cap of $58.64 billion, a price-to-earnings ratio of 16.92 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 - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The business 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. Occidental Petroleum's revenue for the quarter was down 9.6% compared to the same quarter last year. On average, research analysts expect that Occidental Petroleum Co. will post 3.85 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 8th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a yield of 1.33%. This is a boost from Occidental Petroleum's previous quarterly dividend of $0.18. Occidental Petroleum's payout ratio is currently 22.51%.

Institutional Investors Weigh In On Occidental Petroleum

Large investors have recently bought and sold shares of the company. HB Wealth Management LLC raised its stake in shares of Occidental Petroleum by 4.7% during the 1st quarter. HB Wealth Management LLC now owns 17,772 shares of the oil and gas producer's stock valued at $1,155,000 after buying an additional 795 shares during the last quarter. SpiderRock Advisors LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at $276,000. Warther Private Wealth LLC boosted its holdings in Occidental Petroleum by 50.0% during the first quarter. Warther Private Wealth LLC now owns 155,065 shares of the oil and gas producer's stock worth $10,078,000 after buying an additional 51,720 shares in the last quarter. Asset Management Advisors LLC grew its position in Occidental Petroleum by 27.5% during the first quarter. Asset Management Advisors LLC now owns 116,725 shares of the oil and gas producer's stock valued at $7,586,000 after buying an additional 25,205 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in Occidental Petroleum by 67.7% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,780 shares of the oil and gas producer's stock valued at $441,000 after buying an additional 2,738 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company's stock.

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.