Occidental Petroleum (NYSE:OXY) Trading Up 0.1%

Occidental Petroleum Co. (NYSE:OXY)’s share price shot up 0.1% on Tuesday . The company traded as high as $65.38 and last traded at $65.08. 1,548,816 shares traded hands during trading, a decline of 82% from the average session volume of 8,417,023 shares. The stock had previously closed at $65.02.

Analysts Set New Price Targets

OXY has been the subject of a number of recent research reports. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $63.00 to $90.00 in a 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 price objective on the stock. Wells Fargo & Company raised their price target on Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Raymond James decreased their price objective on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Finally, Morgan Stanley increased their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.94.

Occidental Petroleum Stock Up 0.1 %

The firm’s 50-day moving average price is $64.89 and its 200-day moving average price is $61.34. The company has a market cap of $57.68 billion, a price-to-earnings ratio of 16.66 and a beta of 1.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.92 and a quick ratio of 0.69.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The company had revenue of $7.53 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.61 EPS. Sell-side analysts forecast that Occidental Petroleum Co. will post 3.81 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a $0.22 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.88 annualized dividend and a yield of 1.35%. Occidental Petroleum’s dividend payout ratio is presently 22.51%.

Institutional Investors Weigh In On Occidental Petroleum

Several institutional investors have recently bought and sold shares of OXY. Oppenheimer & Co. Inc. boosted its holdings in shares of Occidental Petroleum by 8.6% in the third quarter. Oppenheimer & Co. Inc. now owns 156,279 shares of the oil and gas producer’s stock worth $10,139,000 after buying an additional 12,349 shares during the period. SeaCrest Wealth Management LLC raised its stake in shares of Occidental Petroleum by 8.9% in the 4th quarter. SeaCrest Wealth Management LLC now owns 5,825 shares of the oil and gas producer’s stock valued at $343,000 after purchasing an additional 474 shares during the period. Cullen Investment Group LTD. bought a new position in shares of Occidental Petroleum in the 4th quarter valued at about $1,006,000. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $29,665,000. Finally, Koshinski Asset Management Inc. lifted its stake in Occidental Petroleum by 53.9% in the fourth quarter. Koshinski Asset Management Inc. now owns 48,179 shares of the oil and gas producer’s stock valued at $2,877,000 after acquiring an additional 16,871 shares during the last quarter. Institutional investors and hedge funds 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.