Occidental Petroleum (NYSE:OXY) Shares Down 2.5%

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) fell 2.5% on Wednesday . The stock traded as low as $64.39 and last traded at $64.49. 2,780,484 shares changed hands during trading, a decline of 67% from the average session volume of 8,478,854 shares. The stock had previously closed at $66.14.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on OXY. Wells Fargo & Company lifted their target price on Occidental Petroleum from $62.00 to $70.00 and gave the company an "equal weight" rating in a research report on Thursday, April 11th. 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. Stephens restated an "overweight" rating and issued a $74.00 price objective on shares of Occidental Petroleum in a research report on Thursday, February 15th. StockNews.com raised Occidental Petroleum from a "sell" rating to a "hold" rating in a report on Friday, March 15th. Finally, Truist Financial boosted their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, April 5th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $71.94.

Occidental Petroleum Trading Down 2.6 %

The firm has a market capitalization of $57.13 billion, a PE ratio of 16.48 and a beta of 1.64. The company's 50-day moving average price is $64.63 and its 200-day moving average price is $61.40. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 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 company had revenue of $7.53 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the business posted $1.61 earnings per share. Occidental Petroleum's quarterly revenue was down 9.6% on a year-over-year basis. On average, sell-side analysts expect that Occidental Petroleum Co. will post 3.85 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently announced 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. This is a positive change from Occidental Petroleum's previous quarterly dividend of $0.18. This represents a $0.88 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 7th. Occidental Petroleum's dividend payout ratio is presently 22.51%.

Institutional Trading of Occidental Petroleum

Large investors have recently modified their holdings of the business. Investment Research & Advisory Group Inc. boosted its holdings in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer's stock valued at $25,000 after purchasing an additional 167 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Occidental Petroleum during the 3rd quarter worth $26,000. Orion Capital Management LLC bought a new stake in shares of Occidental Petroleum in the 3rd quarter worth about $27,000. TLW Wealth Management LLC bought a new stake in shares of Occidental Petroleum in the 4th quarter worth about $28,000. Finally, Grove Bank & Trust boosted its holdings in shares of 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 period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.