Occidental Petroleum (OXY) Reaches New 52-Week High and Low at $86.38

Occidental Petroleum (NYSE:OXY) reached a new 52-week high and low during mid-day trading on Tuesday . The company traded as low as $86.38 and last traded at $86.00, with a volume of 132251 shares trading hands. The stock had previously closed at $85.46.

A number of research firms recently issued reports on OXY. TheStreet raised shares of Occidental Petroleum from a “c+” rating to a “b” rating in a research note on Tuesday, May 8th. Bank of America raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Thursday, May 10th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a research note on Monday. Credit Suisse Group lifted their price target on shares of Occidental Petroleum from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, May 9th. Finally, ValuEngine raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Two investment 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 stock currently has a consensus rating of “Hold” and a consensus price target of $76.94.

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.26. The company has a market capitalization of $65.05 billion, a PE ratio of 95.88, a price-to-earnings-growth ratio of 3.39 and a beta of 0.60.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.21. Occidental Petroleum had a net margin of 13.47% and a return on equity of 6.15%. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same quarter in the previous year, the company posted $0.15 EPS. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. research analysts predict that Occidental Petroleum will post 3.86 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, June 11th will be paid a dividend of $0.77 per share. The ex-dividend date is Friday, June 8th. This represents a $3.08 annualized dividend and a yield of 3.61%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 346.07%.

Several hedge funds have recently made changes to their positions in the company. Summit Trail Advisors LLC boosted its position in shares of Occidental Petroleum by 15.2% during the 1st quarter. Summit Trail Advisors LLC now owns 11,558 shares of the oil and gas producer’s stock valued at $585,000 after acquiring an additional 1,522 shares during the last quarter. Cypress Capital Group acquired a new position in shares of Occidental Petroleum during the 1st quarter valued at about $214,000. Levin Capital Strategies L.P. boosted its position in shares of Occidental Petroleum by 6.5% during the 1st quarter. Levin Capital Strategies L.P. now owns 3,108,664 shares of the oil and gas producer’s stock valued at $201,939,000 after acquiring an additional 189,197 shares during the last quarter. Rational Advisors LLC boosted its position in shares of Occidental Petroleum by 251.1% during the 1st quarter. Rational Advisors LLC now owns 20,715 shares of the oil and gas producer’s stock valued at $1,346,000 after acquiring an additional 14,815 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its position in shares of Occidental Petroleum by 7.3% during the 1st quarter. CIBC World Markets Inc. now owns 52,609 shares of the oil and gas producer’s stock valued at $3,417,000 after acquiring an additional 3,568 shares during the last quarter. 80.72% 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 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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