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

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shares traded down 1.1% on Friday . The company traded as low as $42.66 and last traded at $42.89. 2,177,912 shares were traded during trading, a decline of 80% from the average session volume of 11,128,948 shares. The stock had previously closed at $43.37.

Analysts Set New Price Targets

Several research firms have commented on OXY. Citigroup lowered their price target on shares of Occidental Petroleum from $56.00 to $51.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. UBS Group lowered their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Mizuho decreased their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Tuesday. TD Cowen cut shares of Occidental Petroleum from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $68.00 to $45.00 in a research report on Tuesday, April 8th. Finally, Raymond James cut shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $81.00 to $64.00 in a research report on Monday, March 10th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $53.48.

Occidental Petroleum Trading Down 0.5%

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 business's 50-day moving average is $42.75 and its two-hundred day moving average is $47.05. The stock has a market capitalization of $42.47 billion, a PE ratio of 17.68 and a beta of 0.81.

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

Occidental Petroleum Announces Dividend

The firm also recently announced 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. This represents a $0.96 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum's payout ratio is 39.02%.

Institutional Investors Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Occidental Petroleum by 14.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,195 shares of the oil and gas producer's stock worth $3,612,000 after purchasing an additional 8,976 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Occidental Petroleum by 8.8% during the first quarter. Integrated Wealth Concepts LLC now owns 56,922 shares of the oil and gas producer's stock worth $2,810,000 after purchasing an additional 4,600 shares in the last quarter. Greenline Partners LLC lifted its position in shares of Occidental Petroleum by 5.8% during the first quarter. Greenline Partners LLC now owns 7,805 shares of the oil and gas producer's stock worth $385,000 after purchasing an additional 427 shares in the last quarter. H&H International Investment LLC lifted its holdings in Occidental Petroleum by 1.8% in the first quarter. H&H International Investment LLC now owns 13,826,100 shares of the oil and gas producer's stock valued at $682,456,000 after buying an additional 249,100 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in Occidental Petroleum by 5.1% in the first quarter. Alliancebernstein L.P. now owns 835,657 shares of the oil and gas producer's stock valued at $41,248,000 after buying an additional 40,310 shares during the period. Hedge funds and other 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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