Occidental Petroleum (NYSE:OXY) Shares Down 2.7% - Time to Sell?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) was down 2.7% during trading on Thursday . The company traded as low as $42.40 and last traded at $42.63. 3,468,379 shares changed hands during trading, a decline of 69% from the average session volume of 11,120,197 shares. The stock had previously closed at $43.82.

Wall Street Analyst Weigh In

OXY has been the subject of several recent research reports. Morgan Stanley set a $58.00 price target on Occidental Petroleum and gave the company an "overweight" rating in a research report on Wednesday, March 26th. UBS Group dropped their target price on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. StockNews.com downgraded Occidental Petroleum from a "hold" rating to a "sell" rating in a report on Thursday, February 27th. The Goldman Sachs Group lowered Occidental Petroleum from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $54.00 to $45.00 in a research note on Friday, January 31st. Finally, Mizuho lowered their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday. Three equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $53.48.

Occidental Petroleum Price Performance

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The stock has a market capitalization of $42.25 billion, a PE ratio of 17.60 and a beta of 0.81. The stock's 50-day moving average is $42.83 and its 200 day moving average is $47.10.

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 earnings per share for the quarter, topping analysts' consensus estimates 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 company posted $0.63 EPS. The company's revenue was up 13.9% on a year-over-year basis. As a group, equities analysts expect that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.24%. Occidental Petroleum's dividend payout ratio (DPR) is 39.02%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OXY. Howard Capital Management Inc. raised 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 worth $209,000 after buying an additional 216 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in Occidental Petroleum by 27.1% during 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 buying an additional 248 shares during the period. Park Avenue Securities LLC boosted its stake in shares of Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer's stock valued at $398,000 after buying an additional 250 shares during the period. Horizon Investments LLC raised its stake in shares of Occidental Petroleum by 2.3% during the 4th quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer's stock worth $554,000 after purchasing an additional 257 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings 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 worth $81,000 after buying an additional 274 shares during the last quarter. Institutional investors and hedge funds 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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