Occidental Petroleum (NYSE:OXY) Trading 1.2% Higher - Time to Buy?

Occidental Petroleum Corporation (NYSE:OXY - Get Free Report)'s share price rose 1.2% on Tuesday . The stock traded as high as $42.23 and last traded at $42.51. Approximately 2,239,163 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 11,714,293 shares. The stock had previously closed at $42.01.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OXY. UBS Group lowered their target price on Occidental Petroleum from $44.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price objective on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Scotiabank cut Occidental Petroleum from a "sector outperform" rating to a "sector perform" rating and set a $40.00 target price on the stock. in a report on Friday, April 11th. Morgan Stanley set a $58.00 price target on shares of Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Finally, Mizuho reduced their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $53.38.

Occidental Petroleum Trading Up 2.5%

The company has a current ratio of 1.01, a quick ratio of 0.79 and a debt-to-equity ratio of 0.90. The firm's 50-day moving average is $42.27 and its 200-day moving average is $45.43. The firm has a market cap of $42.37 billion, a price-to-earnings ratio of 17.51 and a beta of 0.87.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $6.97 billion. During the same period last year, the company earned $0.63 earnings per share. The business's revenue was up 13.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.23%. Occidental Petroleum's payout ratio is 39.02%.

Institutional Trading of Occidental Petroleum

Institutional investors have recently made changes to their positions in the company. Altshuler Shaham Ltd purchased a new stake in Occidental Petroleum in the 4th quarter valued at about $26,000. VSM Wealth Advisory LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $27,000. Bernard Wealth Management Corp. bought a new stake in shares of Occidental Petroleum during the 4th quarter worth $32,000. Grove Bank & Trust boosted its holdings in shares of Occidental Petroleum by 129.2% in the 1st quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer's stock worth $36,000 after buying an additional 407 shares during the last quarter. Finally, American National Bank & Trust purchased a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $39,000. 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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