Occidental Petroleum (NYSE:OXY) Shares Up 1.7%

Occidental Petroleum Co. (NYSE:OXY)’s stock price rose 1.7% on Monday . The company traded as high as $65.78 and last traded at $65.50. Approximately 2,333,073 shares were traded during trading, a decline of 72% from the average daily volume of 8,426,712 shares. The stock had previously closed at $64.39.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Occidental Petroleum from $62.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Morgan Stanley raised their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. HSBC assumed coverage on Occidental Petroleum in a research report on Monday, April 8th. They set a “hold” rating and a $65.00 price target for the company. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $63.00 to $90.00 in a research report on Thursday, April 11th. Finally, Barclays assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $73.00 price objective for the company. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $72.00.

Occidental Petroleum Stock Down 2.1 %

The firm’s 50-day moving average price is $64.98 and its 200 day moving average price is $61.34. The company has a market capitalization of $56.46 billion, a price-to-earnings ratio of 16.29 and a beta of 1.64. The company has a current ratio of 0.92, a quick ratio of 0.69 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, May 7th. The oil and gas producer reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $6.70 billion. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The firm’s revenue was down 17.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 EPS. On average, sell-side analysts forecast that Occidental Petroleum Co. will post 3.81 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.51%.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors have recently added to or reduced their stakes in the business. Berkshire Hathaway Inc lifted its position in shares of Occidental Petroleum by 8.7% during the 4th quarter. Berkshire Hathaway Inc now owns 243,715,804 shares of the oil and gas producer’s stock valued at $14,552,271,000 after acquiring an additional 19,586,612 shares during the period. Pacer Advisors Inc. lifted its position in shares of Occidental Petroleum by 22.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,995,258 shares of the oil and gas producer’s stock valued at $357,977,000 after acquiring an additional 1,088,052 shares during the period. Invesco Ltd. lifted its position in shares of Occidental Petroleum by 2.8% during the 3rd quarter. Invesco Ltd. now owns 4,665,494 shares of the oil and gas producer’s stock valued at $302,697,000 after acquiring an additional 125,927 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Occidental Petroleum by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,699,722 shares of the oil and gas producer’s stock valued at $220,910,000 after acquiring an additional 82,360 shares during the period. Finally, ANTIPODES PARTNERS Ltd raised its holdings in Occidental Petroleum by 51.7% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 2,340,465 shares of the oil and gas producer’s stock worth $139,749,000 after buying an additional 797,894 shares during the last quarter. 88.70% of the stock is owned by institutional investors.

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.