Occidental Petroleum Co. (NYSE:OXY – Get Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $44.76, but opened at $46.56. Occidental Petroleum shares last traded at $46.22, with a volume of 8,608,196 shares trading hands.
Wall Street Analysts Forecast Growth
OXY has been the subject of several recent research reports. Mizuho dropped their target price on shares of Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Stephens dropped their target price on shares of Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Barclays raised their target price on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, May 8th. Scotiabank downgraded shares of Occidental Petroleum from a “sector outperform” rating to a “sector perform” rating and set a $40.00 target price for the company. in a report on Friday, April 11th. Finally, Morgan Stanley set a $58.00 target price on shares of Occidental Petroleum and gave the company an “overweight” rating in a report on Wednesday, March 26th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $53.14.
Get Our Latest Research Report on Occidental Petroleum
Occidental Petroleum Trading Up 3.7%
The stock has a market capitalization of $45.67 billion, a price-to-earnings ratio of 19.02 and a beta of 0.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. The business’s 50-day simple moving average is $41.05 and its two-hundred day simple moving average is $45.83.
Occidental Petroleum (NYSE:OXY – Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. Occidental Petroleum had a net margin of 11.37% and a return on equity of 16.33%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 earnings per share. On average, research 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.07%. Occidental Petroleum’s dividend payout ratio is currently 39.02%.
Institutional Trading of Occidental Petroleum
A number of hedge funds have recently made changes to their positions in OXY. Altshuler Shaham Ltd bought a new stake in shares of Occidental Petroleum in the fourth quarter worth $26,000. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter worth $27,000. VSM Wealth Advisory LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter worth $27,000. Bernard Wealth Management Corp. bought a new stake in shares of Occidental Petroleum in the fourth quarter worth $32,000. Finally, Grove Bank & Trust increased its stake in shares of Occidental Petroleum by 129.2% in the first quarter. Grove Bank & Trust now owns 722 shares of the oil and gas producer’s stock worth $36,000 after buying an additional 407 shares during 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.
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