Occidental Petroleum (NYSE:OXY) Shares Down 2.7% - Should You Sell?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s stock price fell 2.7% during trading on Monday . The stock traded as low as $45.17 and last traded at $45.22. 7,403,930 shares were traded during mid-day trading, a decline of 35% from the average session volume of 11,407,498 shares. The stock had previously closed at $46.45.

Analysts Set New Price Targets

Several equities research analysts have weighed in on OXY shares. Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price objective on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a research note on Wednesday, April 16th. Susquehanna dropped their price target on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Finally, Piper Sandler decreased their price objective on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $53.14.

Occidental Petroleum Stock Performance

The stock has a market capitalization of $44.60 billion, a P/E ratio of 18.58 and a beta of 0.87. The stock has a 50 day simple moving average of $41.05 and a two-hundred day simple moving average of $45.80. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business had revenue of $6.80 billion during the quarter, compared to analysts' expectations of $6.97 billion. During the same period last year, the business earned $0.63 earnings per share. The firm's revenue was up 13.9% on a year-over-year basis. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.12%. Occidental Petroleum's payout ratio is 39.02%.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds and other institutional investors have recently bought and sold shares of OXY. Berkshire Hathaway Inc lifted its position in shares of Occidental Petroleum by 3.5% in the fourth quarter. Berkshire Hathaway Inc now owns 264,178,414 shares of the oil and gas producer's stock valued at $13,053,055,000 after buying an additional 8,896,890 shares during the last quarter. Vanguard Group Inc. raised its stake in Occidental Petroleum by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer's stock valued at $3,960,202,000 after acquiring an additional 12,107,285 shares during the period. Geode Capital Management LLC lifted its holdings in Occidental Petroleum by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock valued at $701,816,000 after purchasing an additional 398,467 shares during the last quarter. H&H International Investment LLC boosted its position in Occidental Petroleum by 1.8% during the first quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer's stock worth $682,456,000 after purchasing an additional 249,100 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Occidental Petroleum by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer's stock valued at $401,162,000 after purchasing an additional 710,220 shares during the last quarter. Institutional investors own 88.70% of the company's stock.

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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