Occidental Petroleum (NYSE:OXY) Stock Price Down 0%

Occidental Petroleum Co. (NYSE:OXY) traded down 0% during trading on Monday . The company traded as low as $67.35 and last traded at $67.75. 1,622,801 shares traded hands during trading, a decline of 81% from the average session volume of 8,517,419 shares. The stock had previously closed at $67.78.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Occidental Petroleum from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Mizuho boosted their target price on shares of Occidental Petroleum from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Raymond James reduced their target price on shares of Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $63.00 to $90.00 in a research note on Thursday, April 11th. Finally, Truist Financial upped their price target on shares of Occidental Petroleum from $77.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $71.94.

Occidental Petroleum Price Performance

The business has a fifty day moving average price of $64.27 and a 200-day moving average price of $61.33. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $60.47 billion, a PE ratio of 17.33 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The business had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the company posted $1.61 EPS. Occidental Petroleum’s quarterly revenue was down 9.6% compared to the same quarter last year. Research analysts expect that Occidental Petroleum Co. will post 3.85 EPS for the current fiscal year.

Occidental Petroleum Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 8th were issued a $0.22 dividend. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, March 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 22.51%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Berkshire Hathaway Inc raised its stake in Occidental Petroleum by 8.7% in the fourth quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock worth $14,552,271,000 after buying an additional 19,586,612 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Occidental Petroleum by 24.1% in the third quarter. Bank of New York Mellon Corp now owns 12,021,929 shares of the oil and gas producer’s stock valued at $779,983,000 after purchasing an additional 2,334,651 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Occidental Petroleum by 22.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after acquiring an additional 1,088,052 shares during the period. Invesco Ltd. lifted its stake in Occidental Petroleum by 2.8% in the 3rd quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock valued at $302,697,000 after buying an additional 125,927 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in 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 purchasing an additional 82,360 shares in the last quarter. Hedge funds and other 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.