Occidental Petroleum Co. (NYSE:OXY - Get Free Report)'s stock price dropped 0.5% during mid-day trading on Wednesday . The stock traded as low as $53.56 and last traded at $54.05. Approximately 2,742,436 shares were traded during trading, a decline of 70% from the average daily volume of 9,103,569 shares. The stock had previously closed at $54.32.
Analyst Ratings Changes
Several brokerages have recently weighed in on OXY. Evercore ISI decreased their price target on Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating for the company in a research note on Monday, September 30th. Stephens restated an "overweight" rating and set a $76.00 price target on shares of Occidental Petroleum in a report on Thursday, August 8th. UBS Group reduced their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 18th. Mizuho lowered their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Finally, BMO Capital Markets dropped their target price on shares of Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating on the stock in a report on Friday, October 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $67.18.
Check Out Our Latest Analysis on OXY
Occidental Petroleum Trading Down 0.8 %
The company has a market capitalization of $47.79 billion, a P/E ratio of 14.80 and a beta of 1.57. The business has a fifty day moving average of $54.87 and a 200-day moving average of $60.45. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.75 and a current ratio of 1.04.
Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS 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 company had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. Analysts anticipate that Occidental Petroleum Co. will post 3.49 earnings per share for the current fiscal year.
Occidental Petroleum Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued 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 dividend yield of 1.63%. Occidental Petroleum's dividend payout ratio is presently 24.04%.
Insider Buying and Selling
In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $35.75, for a total value of $697,125,000.00. Following the completion of the sale, the insider now owns 165,681,578 shares in the company, valued at approximately $5,923,116,413.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.31% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Occidental Petroleum
Large investors have recently made changes to their positions in the business. Tobam raised its holdings in shares of Occidental Petroleum by 28.8% in the 3rd quarter. Tobam now owns 1,904 shares of the oil and gas producer's stock worth $98,000 after purchasing an additional 426 shares during the period. B & T Capital Management DBA Alpha Capital Management raised its stake in shares of Occidental Petroleum by 2.6% in the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 38,217 shares of the oil and gas producer's stock valued at $1,970,000 after buying an additional 984 shares during the period. Peirce Capital Management LLC lifted its position in shares of Occidental Petroleum by 22.2% during the 3rd quarter. Peirce Capital Management LLC now owns 4,299 shares of the oil and gas producer's stock valued at $222,000 after buying an additional 782 shares during the last quarter. Northstar Group Inc. grew its stake in shares of Occidental Petroleum by 55.1% during the 3rd quarter. Northstar Group Inc. now owns 10,839 shares of the oil and gas producer's stock worth $559,000 after acquiring an additional 3,852 shares during the period. Finally, Royal Fund Management LLC increased its holdings in Occidental Petroleum by 124.2% in the 3rd quarter. Royal Fund Management LLC now owns 57,416 shares of the oil and gas producer's stock worth $2,959,000 after acquiring an additional 31,809 shares during the last quarter. 88.70% of the stock is owned by hedge funds and other institutional investors.
About Occidental Petroleum
(Get Free Report)
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.
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