Occidental Petroleum (NYSE:OXY) Stock Price Down 1.1% - Time to Sell?

Occidental Petroleum Corporation (NYSE:OXY - Get Free Report) shares fell 1.1% during trading on Wednesday . The company traded as low as $45.39 and last traded at $45.48. 5,427,444 shares were traded during trading, a decline of 55% from the average session volume of 11,941,854 shares. The stock had previously closed at $45.98.

Analysts Set New Price Targets

OXY has been the topic of a number of analyst reports. Citigroup increased their price target on Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Monday, May 19th. Mizuho lowered their price target on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Barclays lifted their price objective on shares of Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. lowered their target price on shares of Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, Susquehanna reduced their price target on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $53.14.

Occidental Petroleum Stock Up 0.7%

The firm has a fifty day moving average of $41.78 and a 200-day moving average of $45.67. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90. The firm has a market cap of $44.96 billion, a P/E ratio of 18.57 and a beta of 0.87.

Occidental Petroleum (NYSE:OXY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The company had revenue of $6.80 billion for the quarter, compared to analysts' expectations of $6.97 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The business's revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio is currently 39.02%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OXY. Altshuler Shaham Ltd bought a new position in Occidental Petroleum during the fourth quarter worth about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at approximately $27,000. VSM Wealth Advisory LLC bought a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $27,000. Bernard Wealth Management Corp. acquired a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $32,000. Finally, Grove Bank & Trust raised its stake in Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock valued at $36,000 after acquiring an additional 407 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.