Occidental Petroleum (NYSE:OXY) Shares Down 0.3% After Analyst Downgrade

Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) traded down 0.3% during mid-day trading on Tuesday after Mizuho lowered their price target on the stock from $60.00 to $58.00. Mizuho currently has a neutral rating on the stock. Occidental Petroleum traded as low as $43.68 and last traded at $43.72. 3,379,632 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 11,079,391 shares. The stock had previously closed at $43.86.

OXY has been the topic of a number of other reports. Truist Financial lifted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Piper Sandler reduced their price objective on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Citigroup reduced their price objective on Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Scotiabank downgraded shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective for the company. in a research note on Friday, April 11th. Finally, Barclays increased their price objective on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum has an average rating of "Hold" and an average price target of $53.48.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Howard Capital Management Inc. lifted its stake in shares of Occidental Petroleum by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer's stock valued at $209,000 after purchasing an additional 216 shares during the period. Deseret Mutual Benefit Administrators grew its stake in Occidental Petroleum by 27.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer's stock valued at $58,000 after acquiring an additional 248 shares during the period. Park Avenue Securities LLC grew its stake in Occidental Petroleum by 3.2% in the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock valued at $398,000 after acquiring an additional 250 shares during the period. Horizon Investments LLC grew its stake in Occidental Petroleum by 2.3% in the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock valued at $554,000 after acquiring an additional 257 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Occidental Petroleum by 20.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,631 shares of the oil and gas producer's stock valued at $81,000 after acquiring an additional 274 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.

Occidental Petroleum Stock Up 0.4%

The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The stock has a 50 day simple moving average of $42.93 and a 200 day simple moving average of $47.14. The stock has a market cap of $43.33 billion, a price-to-earnings ratio of 18.05 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. The firm had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. As a group, analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.18%. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.02%.

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.

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