Occidental Petroleum (NYSE:OXY) Trading Down 0.4% – What’s Next?

Shares of Occidental Petroleum Co. (NYSE:OXY) traded down 0.4% during mid-day trading on Tuesday . The stock traded as low as $41.92 and last traded at $42.15. 1,180,036 shares changed hands during trading, a decline of 89% from the average session volume of 11,140,535 shares. The stock had previously closed at $42.31.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OXY shares. The Goldman Sachs Group cut shares of Occidental Petroleum from a “neutral” rating to a “sell” rating and cut their target price for the stock from $54.00 to $45.00 in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. UBS Group reduced their price objective on shares of Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company decreased their price target on Occidental Petroleum from $49.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Finally, Mizuho dropped their price objective on shares of Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $53.14.

Occidental Petroleum Stock Performance

The company has a current ratio of 0.95, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average price of $42.61 and a 200 day moving average price of $46.90. The firm has a market cap of $41.31 billion, a price-to-earnings ratio of 17.15 and a beta of 0.81.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business posted $0.63 EPS. As a group, analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 10th will be given 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 2.29%. Occidental Petroleum’s payout ratio is 39.02%.

Hedge Funds Weigh In On Occidental Petroleum

Several hedge funds have recently added to or reduced their stakes in OXY. Howard Capital Management Inc. increased its holdings in Occidental Petroleum by 5.4% during the 4th quarter. Howard Capital Management Inc. now owns 4,234 shares of the oil and gas producer’s stock worth $209,000 after acquiring an additional 216 shares during the period. Northeast Financial Consultants Inc grew its stake in Occidental Petroleum by 0.4% in the 1st quarter. Northeast Financial Consultants Inc now owns 58,549 shares of the oil and gas producer’s stock worth $2,890,000 after buying an additional 242 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in shares of Occidental Petroleum by 27.1% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,164 shares of the oil and gas producer’s stock worth $58,000 after acquiring an additional 248 shares during the last quarter. Park Avenue Securities LLC grew its position in Occidental Petroleum by 3.2% in the fourth quarter. Park Avenue Securities LLC now owns 8,058 shares of the oil and gas producer’s stock worth $398,000 after acquiring an additional 250 shares in the last quarter. Finally, Horizon Investments LLC raised its position in Occidental Petroleum by 2.3% during the fourth quarter. Horizon Investments LLC now owns 11,208 shares of the oil and gas producer’s stock valued at $554,000 after purchasing an additional 257 shares in the last quarter. 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.