Occidental Petroleum Corporation to Issue Quarterly Dividend of $0.24 (NYSE:OXY)

Occidental Petroleum Corporation (NYSE:OXY) declared a quarterly dividend on Wednesday, November 5th. Investors of record on Wednesday, December 10th will be paid a dividend of 0.24 per share by the oil and gas producer on Thursday, January 15th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, December 10th.

Occidental Petroleum has decreased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Occidental Petroleum has a dividend payout ratio of 30.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Occidental Petroleum to earn $3.85 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 24.9%.

Occidental Petroleum Trading Down 0.7%

Shares of OXY stock opened at $39.78 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum has a fifty-two week low of $34.78 and a fifty-two week high of $53.20. The stock has a market capitalization of $39.16 billion, a P/E ratio of 23.54 and a beta of 0.91. The stock has a 50-day simple moving average of $44.49 and a 200 day simple moving average of $43.64.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.29 billion. During the same quarter last year, the company posted $1.03 EPS. Occidental Petroleum’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts expect that Occidental Petroleum will post 3.58 earnings per share for the current fiscal year.

Institutional Trading of Occidental Petroleum

Institutional investors have recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Occidental Petroleum during the 2nd quarter worth approximately $27,000. City Holding Co. grew its holdings in shares of Occidental Petroleum by 250.0% during the 3rd quarter. City Holding Co. now owns 700 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Occidental Petroleum by 1,193.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 854 shares of the oil and gas producer’s stock worth $36,000 after purchasing an additional 788 shares in the last quarter. GoalVest Advisory LLC acquired a new stake in shares of Occidental Petroleum during the 3rd quarter worth approximately $38,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Occidental Petroleum during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

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.