Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shot up 1.7% on Tuesday . The stock traded as high as $46.43 and last traded at $46.09. 4,302,074 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 11,427,410 shares. The stock had previously closed at $45.33.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. Susquehanna decreased their price objective on Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Raymond James lowered shares of Occidental Petroleum from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $81.00 to $64.00 in a report on Monday, March 10th. Scotiabank lowered Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 price objective on the stock. in a research note on Friday, April 11th. Piper Sandler decreased their price target on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, Mizuho lowered their target price on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $53.14.
Read Our Latest Research Report on Occidental Petroleum
Occidental Petroleum Stock Up 2.7%
The company has a market cap of $45.81 billion, a PE ratio of 19.07 and a beta of 0.87. The company has a fifty day moving average of $41.24 and a two-hundred day moving average of $45.76. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current 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 EPS 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 company 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 EPS. Occidental Petroleum's revenue for the quarter was up 13.9% on a year-over-year basis. As a group, analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.
Occidental Petroleum Announces Dividend
The business 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 $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is presently 39.02%.
Institutional Investors Weigh In On Occidental Petroleum
A number of hedge funds have recently added to or reduced their stakes in OXY. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum in the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC purchased a new position in Occidental Petroleum during the 4th quarter worth $27,000. Whipplewood Advisors LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter worth $27,000. Bernard Wealth Management Corp. purchased a new stake in Occidental Petroleum in the 4th quarter valued at approximately $32,000. Finally, Grove Bank & Trust grew its holdings in Occidental Petroleum by 129.2% during the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after acquiring an additional 407 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Occidental Petroleum Company Profile
(
Get Free Report)
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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