Occidental Petroleum (OXY) Reaches New 12-Month High and Low at $86.32

Occidental Petroleum (NYSE:OXY)’s share price reached a new 52-week high and low on Monday . The company traded as low as $86.32 and last traded at $86.10, with a volume of 207038 shares traded. The stock had previously closed at $86.00.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Monday, May 14th. TheStreet upgraded shares of Occidental Petroleum from a “c+” rating to a “b” rating in a research report on Tuesday, May 8th. Credit Suisse Group boosted their price target on shares of Occidental Petroleum from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 9th. Scotiabank upgraded shares of Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a research report on Monday. Finally, ValuEngine upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $76.94.

The company has a current ratio of 1.26, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market cap of $65.41 billion, a price-to-earnings ratio of 96.39, a PEG ratio of 3.47 and a beta of 0.60.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.21. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.63 billion. Occidental Petroleum had a net margin of 13.47% and a return on equity of 6.15%. Occidental Petroleum’s revenue was up 28.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS. research analysts expect that Occidental Petroleum will post 3.79 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, June 11th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, June 8th. This represents a $3.08 annualized dividend and a yield of 3.59%. Occidental Petroleum’s payout ratio is 346.07%.

Large investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Occidental Petroleum by 21.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock worth $1,418,851,000 after acquiring an additional 3,366,402 shares during the last quarter. Millennium Management LLC increased its stake in Occidental Petroleum by 2,791.8% during the 4th quarter. Millennium Management LLC now owns 1,989,031 shares of the oil and gas producer’s stock worth $146,512,000 after buying an additional 1,920,249 shares during the period. Mackenzie Financial Corp increased its stake in Occidental Petroleum by 275.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,985,993 shares of the oil and gas producer’s stock worth $146,288,000 after buying an additional 1,456,337 shares during the period. Tide Point Capital Management LP purchased a new stake in shares of Occidental Petroleum in the 4th quarter valued at approximately $82,756,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Occidental Petroleum by 172.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,722,476 shares of the oil and gas producer’s stock valued at $111,893,000 after purchasing an additional 1,089,145 shares during the last quarter. Institutional investors own 80.72% 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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.

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