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Barchart

Mark R. Hake, CFA

Occidental Petroleum Could Hike Its Dividend - Price Target is At Least 21% Higher

Occidental Occidental Petroleum OXY Petroleum Barchart

Occidental Petroleum (OXY) is likely to raise its dividend next quarter. That could push it to at least $1.00 per share, giving OXY a prospective yield of 2.42%. Its 5-year average is lower, and at 2.0%, OXY would be worth $50 per share, or 21% higher.

OXY is trading at $41.34 per share, well off its recent high of $48.10 on Sept. 29. Given the strong likelihood of an upcoming dividend per share (DPS) hike, this seems like a low point.

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