Occidental Petroleum Corporation (NYSE:OXY) declared a quarterly dividend on Thursday, October 5th, RTT News reports. Stockholders of record on Monday, December 11th will be paid a dividend of 0.77 per share by the oil and gas producer on Tuesday, January 16th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.78%.

Occidental Petroleum Corporation has increased its dividend payment by an average of 16.2% per year over the last three years and has increased its dividend every year for the last 14 years. Occidental Petroleum Corporation has a dividend payout ratio of 428.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Occidental Petroleum Corporation to earn $1.30 per share next year, which means the company may not be able to cover its $3.04 annual dividend with an expected future payout ratio of 233.8%.

Occidental Petroleum Corporation (NYSE:OXY) traded down 0.06% during mid-day trading on Thursday, reaching $64.35. The company’s stock had a trading volume of 2,234,937 shares. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $75.60. The company has a 50 day moving average of $61.38 and a 200-day moving average of $61.29. The stock has a market cap of $49.20 billion, a PE ratio of 453.17 and a beta of 0.67.

Occidental Petroleum Corporation (NYSE:OXY) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the business earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. Equities analysts forecast that Occidental Petroleum Corporation will post $0.65 earnings per share for the current year.

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OXY has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Cowen and Company set a $75.00 price target on Occidental Petroleum Corporation and gave the company a “buy” rating in a research note on Wednesday, July 19th. Jefferies Group LLC set a $58.00 price target on Occidental Petroleum Corporation and gave the company a “hold” rating in a research note on Tuesday, August 29th. BidaskClub upgraded Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets lowered their target price on Occidental Petroleum Corporation from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, July 14th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $65.50.

In related news, Director William R. Klesse purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was bought at an average cost of $61.58 per share, with a total value of $615,800.00. Following the completion of the purchase, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Occidental Petroleum Corporation Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Dividend History for Occidental Petroleum Corporation (NYSE:OXY)

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