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

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shares traded down 1.4% on Friday . The company traded as low as $63.66 and last traded at $63.76. 2,136,351 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 8,437,866 shares. The stock had previously closed at $64.66.

Analysts Set New Price Targets

A number of research firms have recently commented on OXY. Susquehanna upped their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the stock a "positive" rating in a report on Monday, April 22nd. Mizuho upped their price target on Occidental Petroleum from $69.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. Barclays assumed coverage on Occidental Petroleum in a report on Wednesday, April 10th. They set an "equal weight" rating and a $73.00 target price for the company. Wells Fargo & Company raised their price target on shares of Occidental Petroleum from $62.00 to $70.00 and gave the company an "equal weight" rating in a report on Thursday, April 11th. Finally, Scotiabank upgraded shares of Occidental Petroleum from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $63.00 to $90.00 in a research note on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Occidental Petroleum presently has an average rating of "Hold" and a consensus target price of $71.94.

Occidental Petroleum Stock Performance

The company has a 50 day moving average of $64.72 and a 200 day moving average of $61.43. 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 firm has a market cap of $57.08 billion, a price-to-earnings ratio of 16.47 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 the consensus estimate of $0.74. The company had revenue of $7.53 billion during 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 business's revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.61 EPS. As a group, equities research analysts expect that Occidental Petroleum Co. will post 3.81 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be paid a $0.22 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.37%. Occidental Petroleum's dividend payout ratio (DPR) is presently 22.51%.

Hedge Funds Weigh In On Occidental Petroleum

Hedge funds have recently bought and sold shares of the company. Brookstone Capital Management increased its stake in Occidental Petroleum by 6.9% during the third quarter. Brookstone Capital Management now owns 13,085 shares of the oil and gas producer's stock valued at $870,000 after purchasing an additional 845 shares during the last quarter. Mission Wealth Management LP acquired a new stake in Occidental Petroleum during the third quarter worth about $214,000. Stratos Wealth Partners LTD. lifted its holdings in Occidental Petroleum by 9.2% in the third quarter. Stratos Wealth Partners LTD. now owns 17,716 shares of the oil and gas producer's stock worth $1,149,000 after acquiring an additional 1,486 shares during the last quarter. Stratos Wealth Advisors LLC bought a new position in shares of Occidental Petroleum during the third quarter valued at approximately $500,000. Finally, Bank of New York Mellon Corp raised its position in shares of Occidental Petroleum by 24.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer's stock worth $779,983,000 after purchasing an additional 2,334,651 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.

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