Occidental Petroleum Corporation (OXY) to Issue Quarterly Dividend of $0.77 on January 16th

Occidental Petroleum Corporation (NYSE:OXY) declared a quarterly dividend on Thursday, October 5th, RTT News reports. Stockholders of record on Monday, December 11th will be paid a dividend of 0.77 per share by the oil and gas producer on Tuesday, January 16th. This represents a $3.08 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Friday, December 8th.

Occidental Petroleum has increased its dividend by an average of 16.2% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Occidental Petroleum has a dividend payout ratio of 405.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Occidental Petroleum to earn $1.54 per share next year, which means the company may not be able to cover its $3.08 annual dividend with an expected future payout ratio of 200.0%.

Occidental Petroleum (NYSE:OXY) opened at $69.27 on Thursday. The stock has a market cap of $53,567.18, a PE ratio of 200.00, a PEG ratio of 14.20 and a beta of 0.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. Occidental Petroleum has a one year low of $57.20 and a one year high of $73.51.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm earned ($0.15) EPS. Occidental Petroleum’s quarterly revenue was up 13.3% compared to the same quarter last year. sell-side analysts expect that Occidental Petroleum will post 0.76 earnings per share for the current fiscal year.

Several research analysts recently weighed in on the stock. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Mizuho set a $71.00 price objective on shares of Occidental Petroleum and gave the stock a “hold” rating in a research note on Friday, November 24th. Cowen reissued a “buy” rating and set a $80.00 price objective on shares of Occidental Petroleum in a research note on Thursday, September 28th. Scotiabank reissued a “hold” rating and set a $64.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. Finally, BMO Capital Markets set a $60.00 target price on shares of Occidental Petroleum and gave the stock a “hold” rating in a report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $67.27.

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Occidental Petroleum Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Dividend History for Occidental Petroleum (NYSE:OXY)

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