Occidental Petroleum (NYSE:OXY) Stock Price Down 0%

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shares fell 0% on Thursday . The stock traded as low as $64.12 and last traded at $64.42. 1,449,292 shares changed hands during trading, a decline of 83% from the average session volume of 8,469,518 shares. The stock had previously closed at $64.45.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays assumed 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. Stephens reaffirmed an "overweight" rating and set a $74.00 price objective on shares of Occidental Petroleum in a report on Thursday, February 15th. Susquehanna upped their price objective on shares of Occidental Petroleum from $70.00 to $81.00 and gave the company a "positive" rating in a report on Monday, April 22nd. Raymond James dropped their price objective 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. Finally, Truist Financial upped their price objective on shares of Occidental Petroleum from $77.00 to $84.00 and gave the company a "buy" rating in a report on Friday, April 5th. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $71.94.

Occidental Petroleum Price Performance

The business's 50 day moving average is $64.72 and its two-hundred day moving average is $61.43. The firm has a market capitalization of $57.32 billion, a PE ratio of 16.54 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 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 analysts' expectations of $6.93 billion. During the same period last year, the business earned $1.61 earnings per share. The business's quarterly revenue was down 9.6% on a year-over-year basis. As a group, research analysts anticipate that Occidental Petroleum Co. will post 3.85 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Monday, June 10th. Occidental Petroleum's payout ratio is currently 22.51%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of OXY. Investment Research & Advisory Group Inc. grew its holdings in shares of Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer's stock worth $25,000 after purchasing an additional 167 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Occidental Petroleum in the third quarter worth approximately $26,000. Orion Capital Management LLC bought a new position in shares of Occidental Petroleum in the third quarter worth approximately $27,000. TLW Wealth Management LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth approximately $28,000. Finally, Grove Bank & Trust grew its holdings in shares of 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 during the last quarter. 88.70% of the stock is currently 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.