Occidental Petroleum Corporation (OXY) to Issue Quarterly Dividend of $0.28 on October 15th

Occidental Petroleum Corporation (NYSE:OXY) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Thursday, September 10th will be given a dividend of 0.28 per share by the oil and gas producer on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, September 10th. This is a 7.7% increase from Occidental Petroleum’s previous quarterly dividend of $0.26.

Occidental Petroleum has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Occidental Petroleum has a payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Occidental Petroleum to earn $4.09 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 27.4%.

Occidental Petroleum Stock Performance

NYSE:OXY opened at $60.05 on Tuesday. The business’s fifty day moving average is $56.32 and its 200 day moving average is $56.62. The firm has a market cap of $60.03 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 0.95 and a beta of 0.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.41. Occidental Petroleum has a 52-week low of $38.80 and a 52-week high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.57. The firm had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The business’s revenue for the quarter was up 53.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. Research analysts predict that Occidental Petroleum will post 6.11 EPS for the current year.

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.