News

The average one-year price target for Occidental Petroleum (NYSE:OXY) has been revised to 72.13 / share. This is an increase of 6.30% from the prior estimate of 67.86 dated March 28, 2024.

The price target is an average of many targets provided by analysts. The latest targets range from a low of 58.58 to a high of 94.50 / share. The average price target represents an increase of 7.94% from the latest reported closing price of 66.82 / share.

Occidental Petroleum Declares $0.22 Dividend

On February 8, 2024 the company declared a regular quarterly dividend of $0.22 per share ($0.88 annualized). Shareholders of record as of March 8, 2024 received the payment on April 15, 2024. Previously, the company paid $0.18 per share.

At the current share price of $66.82 / share, the stock's dividend yield is 1.32%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.90%, the lowest has been 0.07%, and the highest has been 32.61%. The standard deviation of yields is 5.44 (n=234).

The current dividend yield is 0.29 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.17. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 21.00%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1879 funds or institutions reporting positions in Occidental Petroleum. This is an increase of 20 owner(s) or 1.08% in the last quarter. Average portfolio weight of all funds dedicated to OXY is 0.34%, a decrease of 14.86%. Total shares owned by institutions decreased in the last three months by 0.46% to 796,751K shares.

The put/call ratio of OXY is 1.18, indicating a bearish outlook.

What are Other Shareholders Doing?

Berkshire Hathaway holds 243,716K shares representing 27.49% ownership of the company. In it's prior filing, the firm reported owning 224,129K shares, representing an increase of 8.04%. The firm decreased its portfolio allocation in OXY by 9.75% over the last quarter.

Dodge & Cox holds 80,993K shares representing 9.14% ownership of the company. In it's prior filing, the firm reported owning 90,449K shares, representing a decrease of 11.68%. The firm decreased its portfolio allocation in OXY by 22.26% over the last quarter.

DODGX - Dodge & Cox Stock Fund holds 54,291K shares representing 6.12% ownership of the company. In it's prior filing, the firm reported owning 60,601K shares, representing a decrease of 11.62%. The firm decreased its portfolio allocation in OXY by 24.60% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 20,715K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 20,639K shares, representing an increase of 0.37%. The firm decreased its portfolio allocation in OXY by 17.46% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 16,128K shares representing 1.82% ownership of the company. In it's prior filing, the firm reported owning 15,949K shares, representing an increase of 1.10%. The firm decreased its portfolio allocation in OXY by 17.80% over the last quarter.

Occidental Petroleum Background Information
(This description is provided by the company.)

Occidental is an international energy company with assets in the United States, Middle East, Africa and Latin America. It is one of the largest oil producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Its midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Its chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. Its Oxy Low Carbon Ventures subsidiary is advancing leading-edge technologies and business solutions that economically grow its business while reducing emissions. It is committed to using its global leadership in carbon management to advance a lower-carbon world.

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