Shares of Occidental Petroleum Co. (NYSE:OXY - Get Free Report) fell 1.7% during trading on Thursday . The company traded as low as $40.16 and last traded at $40.45. 2,528,868 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 12,198,868 shares. The stock had previously closed at $41.13.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Piper Sandler lowered their target price on shares of Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Hsbc Global Res upgraded shares of Occidental Petroleum to a "hold" rating in a research report on Wednesday, April 16th. Barclays increased their price objective on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Finally, Susquehanna lowered their price objective on shares of Occidental Petroleum from $59.00 to $55.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $53.14.
Get Our Latest Stock Report on Occidental Petroleum
Occidental Petroleum Stock Up 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 firm has a market cap of $40.64 billion, a PE ratio of 16.93 and a beta of 0.81. The business's 50-day simple moving average is $42.18 and its 200 day simple moving average is $46.64.
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, 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 firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the previous year, the firm earned $0.63 EPS. The company's quarterly revenue was up 13.9% compared to the same quarter last year. As a group, equities research analysts expect that Occidental Petroleum Co. 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. Stockholders of record on Tuesday, June 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's payout ratio is currently 39.02%.
Institutional Trading of Occidental Petroleum
Institutional investors have recently bought and sold shares of the stock. Altshuler Shaham Ltd acquired a new stake in Occidental Petroleum in the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at $27,000. VSM Wealth Advisory LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at $27,000. Bernard Wealth Management Corp. acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at $32,000. Finally, Grove Bank & Trust lifted its stake 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 valued at $36,000 after purchasing 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.
Further Reading
Before you consider Occidental Petroleum, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Occidental Petroleum wasn't on the list.
While Occidental Petroleum currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
