Occidental Petroleum Corporation Announces Quarterly Dividend of $0.26 (NYSE:OXY)

Occidental Petroleum Corporation (NYSE:OXY) declared a quarterly dividend on Thursday, April 30th. Stockholders of record on Wednesday, June 10th will be given a dividend of 0.26 per share by the oil and gas producer on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th.

Occidental Petroleum has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 5 years. Occidental Petroleum has a payout ratio of 32.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Occidental Petroleum to earn $3.38 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 30.8%.

Occidental Petroleum Stock Down 2.8%

NYSE:OXY traded down $1.67 on Friday, hitting $58.91. The stock had a trading volume of 4,503,744 shares, compared to its average volume of 15,576,975. The company has a market cap of $58.42 billion, a PE ratio of 36.55 and a beta of 0.23. Occidental Petroleum has a 52 week low of $38.72 and a 52 week high of $67.45. The business’s fifty day moving average is $57.77 and its 200 day moving average is $47.79. The company has a quick ratio of 0.74, a current ratio of 0.94 and a debt-to-equity ratio of 0.73.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, February 18th. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.13. Occidental Petroleum had a net margin of 9.14% and a return on equity of 9.89%. The business had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter last year, the firm posted $0.80 EPS. Occidental Petroleum’s revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts expect that Occidental Petroleum will post 4.54 EPS for the current fiscal year.

Institutional Trading of Occidental Petroleum

Large investors have recently bought and sold shares of the company. Lighthouse Investment Partners LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $22,345,000. DNB Asset Management AS raised its stake in shares of Occidental Petroleum by 100.3% during the third quarter. DNB Asset Management AS now owns 267,807 shares of the oil and gas producer’s stock worth $12,654,000 after acquiring an additional 134,128 shares in the last quarter. Mirabella Financial Services LLP lifted its holdings in shares of Occidental Petroleum by 154.7% in the 3rd quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer’s stock worth $1,394,000 after acquiring an additional 17,958 shares during the last quarter. Gifford Fong Associates grew its holdings in shares of Occidental Petroleum by 41.2% during the 3rd quarter. Gifford Fong Associates now owns 171,429 shares of the oil and gas producer’s stock valued at $8,100,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Cooperman Leon G purchased a new position in Occidental Petroleum in the 3rd quarter worth $15,947,000. 88.70% of the stock is owned by hedge funds and other institutional investors.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.