Occidental Petroleum Corp. shares shed 2.84% to $28.35 Wednesday. This proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX falling 0.18% to 4,219.55 and Dow Jones Industrial Average DJIA falling 0.44% to 34,447.14.
Occidental Petroleum Corp. closed $4.17 below its 52-week high ($32.52), which the company reached on March 5th. The stock underperformed when compared to some of its competitors Wednesday, as Exxon Mobil Corp. XOM rose 0.84% to $62.65, Chevron Corp. CVX fell 0.87% to $107.78, and ConocoPhillips COP fell 1.31% to $59.68.
Occidental Petroleum Corp trading volume (15.3 M) remained 1.8 million below its 50-day average volume of 17.1 M.The stock’s fall snapped a two-day winning streak. Occidental Petroleum grew revenue at 9.3% per year. Occidental Petroleum provided a TSR of 20% over the last twelve months. But that was short of the market average.
Energy stocks have rallied since early November as the U.S. economic recovery picked up, but Occidental has lagged despite rising 46% in 2021. Goldman pointed out that the stock has underperformed its sector year to date and dramatically since its 2019 acquisition of Anadarko Petroleum. The petroleum company will begin trading ex-dividend on June 09, 2021. A cash dividend payment of $0.01 per share is scheduled to be paid on July 15, 2021. Shareholders who purchased OXY before the ex-dividend date are eligible for the cash dividend payment. This marks the 5th quarter that OXY has paid the same dividend. At the current stock price of $29.16, the dividend yield is .14%.