Occidental Petroleum (NYSE:OXY) Stock Price Down 1.4%

Occidental Petroleum Co. (NYSE:OXY)’s share price dropped 1.4% on Friday . The company traded as low as $63.66 and last traded at $63.76. Approximately 2,136,351 shares were traded during trading, a decline of 75% from the average daily volume of 8,437,866 shares. The stock had previously closed at $64.66.

Analyst Ratings Changes

A number of research analysts recently issued reports on OXY shares. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Stephens reissued an “overweight” rating and set a $74.00 price target on shares of Occidental Petroleum in a report on Thursday, February 15th. Raymond James reduced their price objective on 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. HSBC began coverage on Occidental Petroleum in a research note on Monday, April 8th. They set a “hold” rating and a $65.00 target price for the company. Finally, Mizuho raised their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $71.94.

Occidental Petroleum Stock Down 0.4 %

The stock’s 50-day simple moving average is $64.80 and its 200 day simple moving average is $61.42. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84. The firm has a market cap of $57.08 billion, a P/E ratio of 16.47 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. Occidental Petroleum’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.61 EPS. As a group, research analysts forecast that Occidental Petroleum Co. will post 3.81 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced 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. This represents a $0.88 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s payout ratio is 22.51%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OXY. Berkshire Hathaway Inc lifted its holdings in shares of Occidental Petroleum by 8.7% in the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock worth $14,552,271,000 after purchasing an additional 19,586,612 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Occidental Petroleum by 22.2% in the fourth quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after buying an additional 1,088,052 shares in the last quarter. Invesco Ltd. increased its position in shares of Occidental Petroleum by 2.8% during the third quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock worth $302,697,000 after acquiring an additional 125,927 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Occidental Petroleum by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer’s stock worth $220,910,000 after acquiring an additional 82,360 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd lifted its position in Occidental Petroleum by 51.7% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock valued at $139,749,000 after acquiring an additional 797,894 shares in 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.