Occidental Petroleum (NYSE:OXY) Stock Price Down 1.6% – What’s Next?

Occidental Petroleum Co. (NYSE:OXY)’s share price was down 1.6% on Monday . The stock traded as low as $41.89 and last traded at $42.35. Approximately 2,533,273 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 11,157,627 shares. The stock had previously closed at $43.04.

Analyst Ratings Changes

OXY has been the subject of a number of recent research reports. Barclays boosted their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Scotiabank lowered shares of Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 target price on the stock. in a research report on Friday, April 11th. Wells Fargo & Company dropped their price target on shares of Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Hsbc Global Res raised Occidental Petroleum to a “hold” rating in a report on Wednesday, April 16th. Finally, Susquehanna reduced their target price on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $53.14.

Occidental Petroleum Stock Performance

The firm has a market capitalization of $41.65 billion, a P/E ratio of 17.34 and a beta of 0.81. The company has a 50-day moving average of $42.69 and a 200-day moving average of $46.95. The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The business had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.97 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. On average, equities analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio is presently 39.02%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Park Avenue Securities LLC grew its position in shares of Occidental Petroleum by 3.2% during the 4th quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after buying an additional 250 shares during the period. Wealthcare Advisory Partners LLC increased its stake in Occidental Petroleum by 72.7% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 10,886 shares of the oil and gas producer’s stock valued at $538,000 after purchasing an additional 4,581 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of Occidental Petroleum by 56.0% during the fourth quarter. Merit Financial Group LLC now owns 7,984 shares of the oil and gas producer’s stock valued at $394,000 after purchasing an additional 2,865 shares during the period. Arkadios Wealth Advisors boosted its position in shares of Occidental Petroleum by 9.0% during the 4th quarter. Arkadios Wealth Advisors now owns 32,319 shares of the oil and gas producer’s stock worth $1,597,000 after purchasing an additional 2,656 shares in the last quarter. Finally, Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $902,000. 88.70% of the stock is 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.