Occidental Petroleum (NYSE:OXY) Trading Up 1.4%

Occidental Petroleum Co. (NYSE:OXY) shot up 1.4% on Thursday . The company traded as high as $52.72 and last traded at $52.49. 2,438,407 shares were traded during trading, a decline of 72% from the average session volume of 8,569,377 shares. The stock had previously closed at $51.75.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company cut 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 report on Friday, August 9th. Mizuho cut their price target on Occidental Petroleum from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday. Truist Financial cut their price target on shares of Occidental Petroleum from $67.00 to $65.00 and set a “hold” rating on the stock in a report on Monday, August 12th. UBS Group cut their price objective on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Citigroup decreased their target price on Occidental Petroleum from $69.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, May 24th. Nine equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $71.60.

Occidental Petroleum Trading Up 1.2 %

The business’s fifty day simple moving average is $57.29 and its 200 day simple moving average is $61.38. The stock has a market cap of $47.44 billion, a price-to-earnings ratio of 14.34 and a beta of 1.58. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 EPS for the quarter, beating 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 firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the prior year, the company earned $0.68 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts predict that Occidental Petroleum Co. will post 3.71 EPS for the current year.

Occidental Petroleum Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.68%. The ex-dividend date is Tuesday, September 10th. Occidental Petroleum’s payout ratio is presently 24.04%.

Insider Activity

In other Occidental Petroleum news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 165,681,578 shares of the company’s stock, valued at $5,923,116,413.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OXY. Investment Research & Advisory Group Inc. grew its position in 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 acquiring an additional 167 shares in the last quarter. LifeSteps Financial Inc. acquired a new position in Occidental Petroleum during the first quarter worth $34,000. Able Wealth Management LLC acquired a new position in Occidental Petroleum during the 4th quarter valued at about $38,000. New Covenant Trust Company N.A. acquired a new stake in Occidental Petroleum during the 1st quarter worth approximately $44,000. Finally, LRI Investments LLC acquired a new stake in shares of Occidental Petroleum in the 1st quarter valued at approximately $44,000. 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.