Occidental Petroleum (NYSE:OXY) Trading Down 1.7% - Here's Why

Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s stock price fell 1.7% during mid-day trading on Thursday . The stock traded as low as $40.16 and last traded at $40.45. 2,528,868 shares changed 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 Analyst Weigh In

Several brokerages have issued reports on OXY. Hsbc Global Res raised Occidental Petroleum to a "hold" rating in a report on Wednesday, April 16th. Citigroup upped their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a "neutral" rating in a research note on Monday. Morgan Stanley set a $58.00 price objective on Occidental Petroleum and gave the stock an "overweight" rating in a report on Wednesday, March 26th. Wells Fargo & Company lowered their price objective on Occidental Petroleum from $49.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, Roth Capital set a $54.00 price target on shares of Occidental Petroleum in a research report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $53.14.

Occidental Petroleum Stock Performance

The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. The company's 50 day moving average price is $42.43 and its 200-day moving average price is $46.83. The stock has a market cap of $40.38 billion, a P/E ratio of 16.83 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. The firm had revenue of $6.80 billion during 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% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. Equities analysts forecast that Occidental Petroleum Co. will post 3.58 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared 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. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 39.02%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Benchmark Investment Advisors LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at approximately $642,000. Fisher Asset Management LLC grew its holdings in Occidental Petroleum by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 613,647 shares of the oil and gas producer's stock valued at $30,320,000 after buying an additional 6,461 shares in the last quarter. Rule One Partners LLC boosted its position in shares of Occidental Petroleum by 18.1% in the fourth quarter. Rule One Partners LLC now owns 325,501 shares of the oil and gas producer's stock valued at $16,083,000 after acquiring an additional 50,000 shares during the period. Mountain Lake Investment Management LLC bought a new position in shares of Occidental Petroleum in the fourth quarter worth $618,000. Finally, Milestones Administradora de Recursos Ltda. raised its position in Occidental Petroleum by 10.6% during the fourth quarter. Milestones Administradora de Recursos Ltda. now owns 193,820 shares of the oil and gas producer's stock valued at $9,577,000 after purchasing an additional 18,500 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.

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