Occidental Petroleum (NYSE:OXY) Shares Up 0.2%

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Mizuho dropped their target price on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a research report on Monday. Truist Financial dropped their price objective on Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating for the company in a report on Monday, August 12th. Wells Fargo & Company lowered their price target on shares of Occidental Petroleum from $68.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Citigroup dropped their price target on shares of Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Finally, Susquehanna lowered their target price on shares of Occidental Petroleum from $81.00 to $78.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.60.

Occidental Petroleum Trading Down 0.6 %

The company has a quick ratio of 0.75, a current ratio of 1.04 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $46.88 billion, a P/E ratio of 14.15 and a beta of 1.58. The company has a fifty day simple moving average of $57.48 and a two-hundred day simple moving average of $61.45.

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

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.70%. Occidental Petroleum’s dividend payout ratio is currently 24.04%.

Insider Buying and Selling

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 sale, the insider now owns 165,681,578 shares of the company’s stock, 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 the SEC website. Company insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Investment Research & Advisory Group Inc. raised its holdings in shares of Occidental Petroleum by 75.2% in the first quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares during the last quarter. LifeSteps Financial Inc. bought a new stake in Occidental Petroleum during the 1st quarter worth about $34,000. Able Wealth Management LLC acquired a new position in Occidental Petroleum during the fourth quarter valued at approximately $38,000. New Covenant Trust Company N.A. acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $44,000. Finally, LRI Investments LLC bought a new position in shares of Occidental Petroleum in the first quarter valued at $44,000. Institutional investors and hedge funds 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.