Occidental Petroleum (NYSE:OXY) Trading Down 0.4%

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) traded down 0.4% during mid-day trading on Monday . The stock traded as low as $63.29 and last traded at $63.34. 1,251,481 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 8,340,013 shares. The stock had previously closed at $63.57.

Analyst Ratings Changes

OXY has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Occidental Petroleum from $66.00 to $72.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. Susquehanna raised their price objective on Occidental Petroleum from $70.00 to $81.00 and gave the stock a "positive" rating in a research report on Monday, April 22nd. Stephens restated an "overweight" rating and set a $74.00 price objective on shares of Occidental Petroleum in a research report on Thursday, February 15th. Raymond James reduced their target price on Occidental Petroleum from $70.00 to $68.00 and set a "strong-buy" rating for the company in a research report on Wednesday, January 24th. Finally, Mizuho lifted their price target on shares of Occidental Petroleum from $70.00 to $71.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 8th. Nine 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $71.88.

Occidental Petroleum Trading Down 1.0 %

The company has a market cap of $55.78 billion, a price-to-earnings ratio of 17.18 and a beta of 1.64. The company's fifty day moving average price is $65.17 and its two-hundred day moving average price is $61.36. The company has a quick ratio of 0.71, a current ratio of 0.95 and a debt-to-equity ratio of 0.82.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 EPS for the quarter, topping the consensus estimate of $0.62 by $0.01. Occidental Petroleum had a return on equity of 17.50% and a net margin of 15.62%. The company had revenue of $6.01 billion for the quarter, compared to analysts' expectations of $6.70 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The business's revenue for the quarter was down 17.2% on a year-over-year basis. Research analysts expect that Occidental Petroleum Co. will post 3.86 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, June 7th. Occidental Petroleum's dividend payout ratio is presently 24.04%.

Institutional Trading of Occidental Petroleum

Several hedge funds have recently modified their holdings of the stock. Berkshire Hathaway Inc boosted its position in Occidental Petroleum by 8.7% in the 4th 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 buying an additional 19,586,612 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Occidental Petroleum by 22.2% in 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 during the last quarter. Invesco Ltd. increased its position in Occidental Petroleum by 2.8% in the third quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer's stock worth $302,697,000 after purchasing an additional 125,927 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Occidental Petroleum by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer's stock worth $220,910,000 after purchasing an additional 82,360 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd lifted its position in Occidental Petroleum by 51.7% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer's stock valued at $139,749,000 after purchasing an additional 797,894 shares during the period. 88.70% of the stock is owned by institutional investors.

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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