Occidental Petroleum Sees Unusually High Options Volume (NYSE:OXY)

Occidental Petroleum Co. (NYSE:OXY) was the recipient of unusually large options trading on Friday. Stock traders bought 117,937 call options on the company. This is an increase of 53% compared to the typical daily volume of 77,112 call options.

Occidental Petroleum Stock Up 2.4 %

OXY stock opened at $69.25 on Friday. The business’s 50-day moving average is $61.36 and its two-hundred day moving average is $60.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.92. Occidental Petroleum has a fifty-two week low of $55.12 and a fifty-two week high of $69.58. The company has a market cap of $61.39 billion, a price-to-earnings ratio of 17.71 and a beta of 1.64.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Thursday, February 15th. The oil and gas producer reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. Occidental Petroleum had a return on equity of 20.63% and a net margin of 16.24%. The firm had revenue of $7.53 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the company earned $1.61 earnings per share. The business’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, analysts forecast that Occidental Petroleum will post 3.55 earnings per share for the current year.

Occidental Petroleum Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 8th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $0.88 annualized dividend and a dividend yield of 1.27%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.18. Occidental Petroleum’s dividend payout ratio (DPR) is 22.51%.

Wall Street Analyst Weigh In

OXY has been the topic of a number of recent research reports. Stephens reissued an “overweight” rating and issued a $74.00 target price on shares of Occidental Petroleum in a research note on Thursday, February 15th. Morgan Stanley increased their price objective on Occidental Petroleum from $66.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Truist Financial increased their price objective on Occidental Petroleum from $77.00 to $84.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Mizuho increased their price objective on Occidental Petroleum from $63.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.67.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OXY. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Occidental Petroleum in the third quarter worth about $26,000. Orion Capital Management LLC purchased a new stake in shares of Occidental Petroleum during the third quarter worth about $27,000. TLW Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth about $28,000. Grove Bank & Trust grew its position in shares of Occidental Petroleum by 86.0% during the fourth quarter. Grove Bank & Trust now owns 519 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 240 shares in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new stake in shares of Occidental Petroleum during the fourth quarter worth about $34,000. Institutional investors 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.