Occidental Petroleum (NYSE:OXY) Trading 4.9% Higher - Time to Buy?

Occidental Petroleum Co. (NYSE:OXY - Get Free Report) shares traded up 4.9% during trading on Monday . The stock traded as high as $44.93 and last traded at $44.25. 8,766,981 shares were traded during trading, a decline of 21% from the average session volume of 11,073,922 shares. The stock had previously closed at $42.16.

Analyst Ratings Changes

A number of equities analysts recently weighed in on OXY shares. Hsbc Global Res upgraded shares of Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Piper Sandler lowered their price objective on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Truist Financial lifted their price objective on shares of Occidental Petroleum from $56.00 to $58.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Wells Fargo & Company dropped their price objective on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. dropped their price objective on Occidental Petroleum from $52.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday. Three 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. Based on data from MarketBeat, Occidental Petroleum has a consensus rating of "Hold" and a consensus price target of $54.05.

Occidental Petroleum Trading Up 3.9%

The firm has a market capitalization of $43.12 billion, a price-to-earnings ratio of 17.96 and a beta of 0.81. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The business's 50-day moving average price is $42.96 and its 200 day moving average price is $47.19.

Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $6.80 billion for 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%. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. On average, equities analysts forecast that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Dividend Announcement

The firm also recently disclosed 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. This represents a $0.96 annualized dividend and a yield of 2.19%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's payout ratio is presently 39.02%.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Occidental Petroleum by 17.8% during 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 purchasing an additional 12,107,285 shares during the period. Berkshire Hathaway Inc raised its holdings 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 buying an additional 8,896,890 shares during the last quarter. Worldquant Millennium Advisors LLC raised its holdings in shares of Occidental Petroleum by 1,075.3% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 1,930,776 shares of the oil and gas producer's stock valued at $95,400,000 after buying an additional 1,766,491 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Occidental Petroleum by 48.1% in the fourth quarter. Marshall Wace LLP now owns 4,117,777 shares of the oil and gas producer's stock valued at $203,459,000 after buying an additional 1,337,728 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Occidental Petroleum by 25.2% during the fourth quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after acquiring an additional 1,278,389 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.