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.
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.
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.
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