Occidental Petroleum (NYSE:OXY) Stock Price Down 0%

Shares of Occidental Petroleum Co. (NYSE:OXY) were down 0% during trading on Monday . The company traded as low as $67.35 and last traded at $67.75. Approximately 1,622,801 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 8,517,419 shares. The stock had previously closed at $67.78.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $73.00 price objective on the stock. Mizuho upped their price objective on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Raymond James cut their price objective on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $63.00 to $90.00 in a report on Thursday, April 11th. Finally, HSBC initiated coverage on Occidental Petroleum in a report on Monday, April 8th. They set a “hold” rating and a $65.00 price target for the company. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Stock Down 3.0 %

The stock’s fifty day simple moving average is $64.55 and its 200-day simple moving average is $61.38. The stock has a market cap of $58.64 billion, a P/E ratio of 16.92 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.61 earnings per share. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.85 earnings per share for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.33%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Institutional Investors Weigh In On Occidental Petroleum

A number of large investors have recently bought and sold shares of the company. Mission Wealth Management LP lifted its holdings in shares of Occidental Petroleum by 34.6% during the 1st quarter. Mission Wealth Management LP now owns 4,865 shares of the oil and gas producer’s stock worth $316,000 after acquiring an additional 1,251 shares during the period. Lineweaver Wealth Advisors LLC raised its position in Occidental Petroleum by 7.4% during the first quarter. Lineweaver Wealth Advisors LLC now owns 10,964 shares of the oil and gas producer’s stock valued at $713,000 after purchasing an additional 752 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Occidental Petroleum during the first quarter worth $13,816,000. Lodestone Wealth Management LLC boosted its holdings in shares of Occidental Petroleum by 0.4% in the 1st quarter. Lodestone Wealth Management LLC now owns 50,256 shares of the oil and gas producer’s stock valued at $3,266,000 after purchasing an additional 206 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its stake in shares of Occidental Petroleum by 7.1% in the 1st quarter. J.W. Cole Advisors Inc. now owns 9,167 shares of the oil and gas producer’s stock valued at $596,000 after purchasing an additional 609 shares during the last quarter. 88.70% of the stock is currently owned by institutional investors and hedge funds.

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.