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Market Update (NYSE:OXY): Occidental Petroleum Announces Regular Quarterly Dividend

[ Business Wire] – Occidental Petroleum Corporation said today that its Board of Directors has declared a regular quarterly dividend as well as a special stock dividend for the common stock of California Resources Corporation . Read more on this. Occidental Petroleum Corporation (OXY) , with a current value of $54.30B, opened at $71.33. Looking at today’s trading action, the company’s one day range from $69.81 to $71.46 with the price of the stock fluctuating between $58.24 to $82.06 over the last 52 weeks. OXY shares are currently priced at -168.17x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 17.02x earnings multiple. And for passive income investors, the company pays shareholders $3.00 per share annually in dividends, yielding 4.47%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $-0.31 per share, which would be $0.04 better than the year-ago quarter and a $0.16 sequential increase. What we find to be interesting is that the full-year EPS estimate of $-0.42 is a $0.54 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.49 Billion. If realized, that would be a 19.68% decrease over the year-ago quarter. Recently, Jefferies downgraded OXY from Buy to Hold (Jan 12, 2016). Previously, Iberia downgraded OXY from Outperform to Sector Perform. When considering if perhaps the stock is under or overvalued, the average price target is $73.08, which is 2.45% above where the stock opened this morning. See more in (NYSE:OXY) Similar Articles: Company Update: Occidental Petroleum Corporation (NYSE:OXY) – Occidental Petroleum Announces 4th Quarter 2015 Results Company Update: Occidental Petroleum Corporation (NYSE:OXY) – Occidental Petroleum and the Republic of Ecuador Reach Understanding on Terms of Payment of ICSID Award Company Update: Occidental Petroleum Corporation (NYSE:OXY) – Occidental Petroleum Announces 3rd Quarter 2015 Results
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