Occidental Petroleum (NYSE:OXY) Sets New 1-Year High at $68.18

Occidental Petroleum Co. (NYSE:OXYGet Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $68.18 and last traded at $67.07, with a volume of 5440566 shares changing hands. The stock had previously closed at $66.38.

Wall Street Analyst Weigh In

OXY has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Truist Financial dropped their price objective on Occidental Petroleum from $80.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, February 16th. StockNews.com raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Mizuho increased their price objective on shares of Occidental Petroleum from $63.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Finally, Raymond James reduced their target price on Occidental Petroleum from $70.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $70.20.

View Our Latest Research Report on OXY

Occidental Petroleum Trading Up 0.4 %

The business’s 50 day moving average is $60.34 and its two-hundred day moving average is $60.78. The firm has a market capitalization of $59.08 billion, a P/E ratio of 16.98 and a beta of 1.64. The company has a quick ratio of 0.69, a current ratio of 0.92 and a debt-to-equity ratio of 0.84.

Occidental Petroleum (NYSE:OXYGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. Occidental Petroleum had a net margin of 16.24% and a return on equity of 20.63%. The company had revenue of $7.53 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the business posted $1.61 EPS. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. Analysts expect that Occidental Petroleum Co. will post 3.56 EPS for the current year.

Occidental Petroleum Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be issued a $0.22 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.32%. Occidental Petroleum’s dividend payout ratio is 22.51%.

Hedge Funds Weigh In On Occidental Petroleum

Several hedge funds have recently made changes to their positions in the business. Glenview Trust Co lifted its stake in Occidental Petroleum by 3.3% during the second quarter. Glenview Trust Co now owns 4,932 shares of the oil and gas producer’s stock valued at $290,000 after buying an additional 159 shares in the last quarter. Everhart Financial Group Inc. lifted its position in shares of Occidental Petroleum by 2.3% in the 3rd quarter. Everhart Financial Group Inc. now owns 7,457 shares of the oil and gas producer’s stock valued at $484,000 after acquiring an additional 169 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of Occidental Petroleum by 2.7% in the third quarter. PFG Investments LLC now owns 6,423 shares of the oil and gas producer’s stock valued at $417,000 after purchasing an additional 170 shares in the last quarter. VisionPoint Advisory Group LLC lifted its stake in Occidental Petroleum by 1.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 14,754 shares of the oil and gas producer’s stock worth $957,000 after acquiring an additional 174 shares in the last quarter. Finally, Conning Inc. lifted its position in Occidental Petroleum by 3.6% in the 3rd quarter. Conning Inc. now owns 5,146 shares of the oil and gas producer’s stock worth $334,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.

About Occidental Petroleum

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.