Occidental Petroleum (NYSE:OXY) Stock Price Up 1.4%

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on OXY shares. Wolfe Research initiated coverage on Occidental Petroleum in a report on Thursday, July 18th. They issued an “outperform” rating and a $81.00 price target for the company. UBS Group decreased their target price on shares of Occidental Petroleum from $70.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday. Stephens reissued an “overweight” rating and set a $76.00 price objective on shares of Occidental Petroleum in a report on Thursday, August 8th. Finally, Wells Fargo & Company dropped their target price 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $71.60.

Occidental Petroleum Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.04 and a quick ratio of 0.75. The firm has a 50-day simple moving average of $56.91 and a two-hundred day simple moving average of $61.26. The company has a market cap of $46.77 billion, a PE ratio of 14.11 and a beta of 1.58.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, August 7th. The oil and gas producer reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.26. The firm had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $6.93 billion. Occidental Petroleum had a net margin of 16.62% and a return on equity of 17.91%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. Research analysts anticipate that Occidental Petroleum Co. will post 3.71 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company 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 $0.22 dividend. The ex-dividend date is Tuesday, September 10th. This represents a $0.88 annualized dividend and a yield of 1.70%. Occidental Petroleum’s payout ratio is currently 24.04%.

Insiders Place Their Bets

In related news, major shareholder Petroleum Corp /De/ Occidental sold 19,500,000 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 165,681,578 shares in the company, valued at $5,923,116,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.

Institutional Investors Weigh In On Occidental Petroleum

Institutional investors have recently bought and sold shares of the stock. Investment Research & Advisory Group Inc. boosted its holdings in shares of Occidental Petroleum by 75.2% in the 1st quarter. Investment Research & Advisory Group Inc. now owns 389 shares of the oil and gas producer’s stock valued at $25,000 after purchasing an additional 167 shares during the last quarter. LifeSteps Financial Inc. purchased a new stake in Occidental Petroleum during the first quarter valued at about $34,000. Able Wealth Management LLC acquired a new stake in Occidental Petroleum during the fourth quarter worth about $38,000. New Covenant Trust Company N.A. purchased a new position in shares of Occidental Petroleum in the 1st quarter worth about $44,000. Finally, LRI Investments LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at about $44,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

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.