Occidental Petroleum (NYSE:OXY) Trading Up 0.2%

Occidental Petroleum Co. (NYSE:OXY) traded up 0.2% during mid-day trading on Monday . The company traded as high as $51.91 and last traded at $51.15. 3,328,587 shares traded hands during trading, a decline of 61% from the average session volume of 8,545,387 shares. The stock had previously closed at $51.05.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on OXY shares. Susquehanna cut their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wolfe Research began coverage on shares of Occidental Petroleum in a research note on Thursday, July 18th. They set an “outperform” rating and a $81.00 price target for the company. UBS Group lifted their target price on Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Scotiabank dropped their price target on shares of Occidental Petroleum from $90.00 to $80.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, Citigroup dropped their price objective on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Nine analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $72.33.

Occidental Petroleum Stock Performance

The stock has a market cap of $45.28 billion, a P/E ratio of 13.98 and a beta of 1.58. The company has a current ratio of 1.04, a quick ratio of 0.75 and a debt-to-equity ratio of 0.77. The stock has a 50 day simple moving average of $57.85 and a 200 day simple moving average of $61.58.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.26. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The business had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the prior year, the business posted $0.68 earnings per share. Occidental Petroleum’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts expect that Occidental Petroleum Co. will post 3.71 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.72%. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

Insiders Place Their Bets

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of Occidental Petroleum stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $35.75, for a total value of $697,125,000.00. Following the transaction, the insider now owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

Institutional Trading of Occidental Petroleum

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swedbank AB bought a new stake in Occidental Petroleum during the 1st quarter worth $12,547,000. Allspring Global Investments Holdings LLC raised its holdings in Occidental Petroleum by 139.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 78,529 shares of the oil and gas producer’s stock valued at $5,104,000 after buying an additional 45,722 shares during the last quarter. Bridgefront Capital LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth approximately $763,000. Alberta Investment Management Corp increased its position in Occidental Petroleum by 143.2% in the 4th quarter. Alberta Investment Management Corp now owns 36,475 shares of the oil and gas producer’s stock valued at $2,178,000 after acquiring an additional 21,475 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Occidental Petroleum by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 904,081 shares of the oil and gas producer’s stock valued at $58,757,000 after acquiring an additional 8,863 shares during the last quarter. Institutional investors own 88.70% of the company’s stock.

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.