Occidental Petroleum Corporation (NYSE:OXY) Shareholders to Collect $0.28 Quarterly Dividend

Occidental Petroleum Corporation (NYSE:OXY) announced a quarterly dividend on Monday, October 26th. Stockholders of record on Thursday, December 10th will be given a dividend of $0.28 per share by the oil and gas producer on Friday, January 15th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, December 10th.

Occidental Petroleum has a payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Occidental Petroleum to earn $5.14 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 21.8%.

Occidental Petroleum Trading Down 0.2%

Shares of OXY stock opened at $64.07 on Tuesday. The stock has a 50-day simple moving average of $59.83 and a 200 day simple moving average of $55.39. The stock has a market capitalization of $64.05 billion, a P/E ratio of 9.92, a P/E/G ratio of 0.74 and a beta of 0.24. Occidental Petroleum has a fifty-two week low of $38.80 and a fifty-two week high of $67.45. The company has a quick ratio of 1.13, a current ratio of 1.41 and a debt-to-equity ratio of 0.40.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 EPS for the quarter, topping the consensus estimate of $1.83 by $0.57. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The firm had revenue of $8.06 billion for the quarter, compared to analysts’ expectations of $7.07 billion. During the same period in the previous year, the business earned $0.39 earnings per share. Occidental Petroleum’s revenue for the quarter was up 53.4% compared to the same quarter last year. On average, sell-side analysts expect that Occidental Petroleum will post 6.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Berkshire Hathaway Inc acquired a new stake in Occidental Petroleum in the 2nd quarter valued at approximately $12,868,205,000. State Street Corp lifted its holdings in shares of Occidental Petroleum by 6.6% during the second quarter. State Street Corp now owns 46,141,269 shares of the oil and gas producer’s stock worth $2,252,271,000 after buying an additional 2,870,472 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Occidental Petroleum by 84.8% during the second quarter. Bank of New York Mellon Corp now owns 10,643,916 shares of the oil and gas producer’s stock worth $516,975,000 after buying an additional 4,882,834 shares during the last quarter. Amundi boosted its position in shares of Occidental Petroleum by 2.7% in the first quarter. Amundi now owns 2,979,380 shares of the oil and gas producer’s stock valued at $193,660,000 after acquiring an additional 78,335 shares during the period. Finally, Danske Bank A S bought a new stake in shares of Occidental Petroleum in the second quarter valued at approximately $172,413,000. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.

The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.