Occidental Petroleum Corporation (NYSE:OXY - Get Free Report)'s share price fell 3.5% during trading on Monday . The stock traded as low as $44.84 and last traded at $44.68. 3,065,253 shares were traded during mid-day trading, a decline of 74% from the average session volume of 11,878,058 shares. The stock had previously closed at $46.31.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on OXY. Mizuho decreased their target price on Occidental Petroleum from $60.00 to $58.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. UBS Group decreased 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. Stephens decreased their target price on Occidental Petroleum from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Piper Sandler cut their price objective on Occidental Petroleum from $50.00 to $48.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, TD Cowen lowered Occidental Petroleum from a "buy" rating to a "hold" rating and cut their price objective for the stock from $68.00 to $45.00 in a report on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $53.62.
View Our Latest Research Report on OXY
Occidental Petroleum Trading Down 2.8%
The company has a market capitalization of $44.31 billion, a price-to-earnings ratio of 18.30 and a beta of 0.84. The company has a 50-day moving average price of $43.05 and a 200-day moving average price of $45.27. The company has a quick ratio of 0.79, a current ratio of 1.01 and a debt-to-equity ratio of 0.90.
Occidental Petroleum (NYSE:OXY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a return on equity of 16.60% and a net margin of 11.20%. The firm's revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business posted $0.63 earnings per share. Research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.
Occidental Petroleum Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 annualized dividend and a yield of 2.13%. Occidental Petroleum's dividend payout ratio (DPR) is 39.02%.
Institutional Trading of Occidental Petroleum
A number of institutional investors and hedge funds have recently modified their holdings of OXY. Benchmark Investment Advisors LLC acquired a new stake in Occidental Petroleum in the 4th quarter valued at $642,000. Vanguard Group Inc. boosted its stake in Occidental Petroleum by 18.1% in the 4th quarter. Vanguard Group Inc. now owns 68,123,704 shares of the oil and gas producer's stock valued at $3,365,992,000 after buying an additional 10,434,098 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer's stock valued at $78,813,000 after buying an additional 140,528 shares in the last quarter. Invesco Ltd. boosted its stake in Occidental Petroleum by 25.2% in the 4th quarter. Invesco Ltd. now owns 6,357,689 shares of the oil and gas producer's stock valued at $314,133,000 after buying an additional 1,278,389 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Occidental Petroleum by 7.5% in the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer's stock valued at $349,085,000 after buying an additional 491,797 shares in the last quarter. 88.70% of the stock is currently owned by institutional investors.
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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