Occidental Petroleum Corporation to Issue Quarterly Dividend of $0.24 (NYSE:OXY)

Occidental Petroleum Corporation (NYSE:OXY) declared a quarterly dividend on Wednesday, November 5th. Investors of record on Wednesday, December 10th will be paid a dividend of 0.24 per share by the oil and gas producer on Thursday, January 15th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, December 10th.

Occidental Petroleum has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 5 years. Occidental Petroleum has a payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Occidental Petroleum to earn $3.85 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 24.9%.

Occidental Petroleum Stock Performance

Shares of OXY stock opened at $39.78 on Thursday. Occidental Petroleum has a 12 month low of $34.78 and a 12 month high of $53.20. The company has a market cap of $39.16 billion, a P/E ratio of 23.54 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.84. The firm has a fifty day moving average price of $44.49 and a 200 day moving average price of $43.64.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts predict that Occidental Petroleum will post 3.58 earnings per share for the current fiscal year.

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.