Occidental Petroleum (NYSE:OXY) Shares Up 1.2%

Occidental Petroleum Co. (NYSE:OXY)’s share price traded up 1.2% during trading on Tuesday . The stock traded as high as $51.88 and last traded at $51.88. 3,316,212 shares changed hands during trading, a decline of 61% from the average session volume of 8,553,674 shares. The stock had previously closed at $51.29.

Analyst Ratings Changes

Several equities research analysts have commented on OXY shares. Stephens restated an “overweight” rating and issued a $76.00 price objective on shares of Occidental Petroleum in a research report on Thursday, August 8th. Scotiabank reduced their price objective on 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. Truist Financial dropped their target price on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a report on Monday, August 12th. UBS Group boosted their price target on shares of Occidental Petroleum from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Mizuho reduced their target price on shares of Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Monday. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $72.33.

Occidental Petroleum Price Performance

The company has a fifty day simple moving average of $57.66 and a two-hundred day simple moving average of $61.52. The company has a market cap of $47.20 billion, a price-to-earnings ratio of 14.17 and a beta of 1.58. The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77.

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

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.22 per share. 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 1.69%. Occidental Petroleum’s dividend payout ratio (DPR) is 24.04%.

Insider Transactions at Occidental Petroleum

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

Institutional Trading of Occidental Petroleum

A number of hedge funds have recently made changes to their positions in the company. Swedbank AB acquired a new stake in shares of Occidental Petroleum during the first quarter worth approximately $12,547,000. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 worth $5,104,000 after acquiring an additional 45,722 shares during the period. Bridgefront Capital LLC acquired a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $763,000. Alberta Investment Management Corp raised its holdings in Occidental Petroleum by 143.2% during the fourth quarter. Alberta Investment Management Corp now owns 36,475 shares of the oil and gas producer’s stock worth $2,178,000 after purchasing an additional 21,475 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in 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 buying an additional 8,863 shares in the last quarter. Hedge funds and other 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.