Occidental Petroleum (NYSE:OXY) Shares Down 0%

Occidental Petroleum Co. (NYSE:OXY) shares were down 0% during mid-day trading on Thursday . The stock traded as low as $64.12 and last traded at $64.42. Approximately 1,449,292 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 8,469,518 shares. The stock had previously closed at $64.45.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on OXY shares. Truist Financial lifted their price objective on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Raymond James lowered their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Wells Fargo & Company lifted their target price on shares of Occidental Petroleum from $62.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. HSBC initiated coverage on shares of Occidental Petroleum in a research report on Monday, April 8th. They issued a “hold” rating and a $65.00 target price on the stock. Finally, StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $71.94.

Occidental Petroleum Price Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69. The stock has a market capitalization of $57.54 billion, a price-to-earnings ratio of 16.48 and a beta of 1.64. The stock’s 50 day simple moving average is $64.63 and its 200-day simple moving average is $61.40.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm had revenue of $7.53 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company earned $1.61 earnings per share. The company’s revenue was down 9.6% compared to the same quarter last year. On average, analysts expect that Occidental Petroleum Co. will post 3.85 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 8th were given a $0.22 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.36%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

Hedge Funds Weigh In On Occidental Petroleum

A number of institutional investors have recently modified their holdings of OXY. Investment Research & Advisory Group Inc. raised its position in shares of Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Occidental Petroleum during the 3rd quarter valued at $26,000. Orion Capital Management LLC acquired a new position in Occidental Petroleum during the 3rd quarter valued at $27,000. TLW Wealth Management LLC acquired a new position in Occidental Petroleum during the 4th quarter valued at $28,000. Finally, Grove Bank & Trust raised its stake in Occidental Petroleum by 86.0% during the 4th quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 240 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

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.