Occidental Petroleum (NYSE:OXY) Stock Price Down 1.9% - Should You Sell?

Shares of Occidental Petroleum Corporation (NYSE:OXY - Get Free Report) were down 1.9% during mid-day trading on Tuesday . The company traded as low as $42.49 and last traded at $43.13. Approximately 6,172,172 shares traded hands during trading, a decline of 47% from the average daily volume of 11,564,807 shares. The stock had previously closed at $43.95.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OXY shares. Susquehanna cut their price objective on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Scotiabank lowered shares of Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price target for the company. in a report on Friday, April 11th. TD Cowen downgraded shares of Occidental Petroleum from a "buy" rating to a "hold" rating and decreased their price objective for the company from $68.00 to $45.00 in a report on Tuesday, April 8th. Barclays lifted their price objective on Occidental Petroleum from $46.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Finally, Stephens reduced their target price on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Three 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, the stock presently has an average rating of "Hold" and an average target price of $53.14.

Occidental Petroleum Trading Down 0.0%

The business's 50-day simple moving average is $42.08 and its two-hundred day simple moving average is $45.58. The firm has a market capitalization of $41.80 billion, a price-to-earnings ratio of 17.26 and a beta of 0.87. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted 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 11.20% and a return on equity of 16.60%. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter last year, the firm earned $0.63 EPS. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. Equities analysts forecast that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 annualized dividend and a dividend yield of 2.26%. Occidental Petroleum's dividend payout ratio is presently 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 boosted its stake 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 purchasing an additional 8,896,890 shares during the period. Vanguard Group Inc. boosted its position 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 buying an additional 12,107,285 shares during the period. Geode Capital Management LLC grew its stake in shares of Occidental Petroleum by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 14,245,357 shares of the oil and gas producer's stock worth $701,816,000 after acquiring an additional 398,467 shares in the last quarter. H&H International Investment LLC increased its position in shares of 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 acquiring an additional 249,100 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake 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 acquiring an additional 710,220 shares in the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.