Occidental Petroleum Corp. (NYSE:OXY) Director Stephen I. Chazen sold 9,000 shares of the firm’s stock in a transaction dated Thursday, October 13th. The shares were sold at an average price of $73.80, for a total transaction of $664,200.00. Following the completion of the sale, the director now owns 1,628,119 shares of the company’s stock, valued at approximately $120,155,182.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Occidental Petroleum Corp. (NYSE:OXY) opened at 72.47 on Tuesday. Occidental Petroleum Corp. has a one year low of $58.24 and a one year high of $78.48. The firm has a 50 day moving average of $73.62 and a 200-day moving average of $74.68. The firm’s market cap is $55.36 billion.
Occidental Petroleum Corp. (NYSE:OXY) last released its earnings results on Wednesday, August 3rd. The company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). Occidental Petroleum Corp. had a negative net margin of 71.82% and a negative return on equity of 2.64%. The business earned $2.53 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the business earned $0.21 earnings per share. The business’s quarterly revenue was down 27.0% on a year-over-year basis. Equities research analysts forecast that Occidental Petroleum Corp. will post ($0.71) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 4.19%. The ex-dividend date is Wednesday, December 7th. Occidental Petroleum Corp.’s dividend payout ratio is presently -29.57%.
A number of hedge funds have recently added to or reduced their stakes in OXY. Kistler Tiffany Companies LLC raised its stake in Occidental Petroleum Corp. by 1.4% in the second quarter. Kistler Tiffany Companies LLC now owns 1,346 shares of the company’s stock valued at $102,000 after buying an additional 19 shares in the last quarter. First New York Securities LLC NY acquired a new stake in Occidental Petroleum Corp. during the second quarter valued at approximately $110,000. LSV Asset Management acquired a new stake in Occidental Petroleum Corp. during the second quarter valued at approximately $111,000. Oakworth Capital Inc. raised its stake in Occidental Petroleum Corp. by 7.0% in the second quarter. Oakworth Capital Inc. now owns 1,521 shares of the company’s stock valued at $115,000 after buying an additional 100 shares in the last quarter. Finally, SevenBridge Financial Group LLC acquired a new stake in Occidental Petroleum Corp. during the second quarter valued at approximately $121,000. 80.76% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. Jefferies Group restated a “hold” rating on shares of Occidental Petroleum Corp. in a research report on Sunday, July 10th. Deutsche Bank AG downgraded shares of Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 price target for the company. in a research report on Friday, August 5th. Credit Agricole SA reiterated a “buy” rating on shares of Occidental Petroleum Corp. in a research report on Tuesday, August 16th. Barclays PLC lifted their price target on shares of Occidental Petroleum Corp. from $60.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, July 14th. Finally, Raymond James Financial Inc. downgraded shares of Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 price target for the company. in a research report on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. Occidental Petroleum Corp. has an average rating of “Hold” and an average target price of $76.06.
About Occidental Petroleum Corp.
Occidental Petroleum Corporation is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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