Occidental Petroleum (NYSE:OXY) Stock Price Down 0.4% - Time to Sell?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s share price dropped 0.4% during trading on Tuesday . The stock traded as low as $41.92 and last traded at $42.15. Approximately 1,180,036 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 11,140,535 shares. The stock had previously closed at $42.31.

Analyst Upgrades and Downgrades

OXY has been the subject of several analyst reports. Raymond James downgraded shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $81.00 to $64.00 in a research report on Monday, March 10th. Stephens reduced their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company lowered their price objective on shares of Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Roth Capital set a $54.00 target price on shares of Occidental Petroleum in a research note on Thursday, January 23rd. Finally, Citigroup raised their target price on Occidental Petroleum from $42.00 to $44.00 and gave the stock a "neutral" rating in a research report on Monday. Three 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $53.14.

Occidental Petroleum Stock Down 0.8%

The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $41.31 billion, a price-to-earnings ratio of 17.15 and a beta of 0.81. The company has a 50-day moving average of $42.61 and a 200-day moving average of $46.90.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. Occidental Petroleum's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. On average, equities analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently announced 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 of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.29%. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.

Institutional Trading of Occidental Petroleum

Several large investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd acquired a new stake in shares of Occidental Petroleum during the 4th quarter worth about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at $27,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum in the fourth quarter valued at approximately $27,000. Bernard Wealth Management Corp. acquired a new stake in Occidental Petroleum during the fourth quarter worth approximately $32,000. Finally, Grove Bank & Trust lifted its position in Occidental Petroleum by 129.2% in the first 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 last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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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