Occidental Petroleum (NYSE:OXY) CEO Purchases 4,770 Shares

Occidental Petroleum Corporation (NYSE:OXY) CEO Richard Jackson acquired 4,770 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $52.38 per share, with a total value of $249,852.60. Following the acquisition, the chief executive officer owned 444,098 shares in the company, valued at approximately $23,261,853.24. The trade was a 1.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Occidental Petroleum Stock Down 2.2%

OXY stock traded down $1.15 on Wednesday, hitting $51.08. 7,825,709 shares of the company’s stock were exchanged, compared to its average volume of 9,854,627. The firm has a 50 day moving average price of $56.70 and a two-hundred day moving average price of $51.67. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The stock has a market cap of $50.81 billion, a P/E ratio of 12.87 and a beta of 0.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The company had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the business posted $0.14 earnings per share. The firm’s revenue was down 8.3% compared to the same quarter last year. As a group, equities research analysts expect that Occidental Petroleum Corporation will post 5.79 EPS for the current fiscal year.

Occidental Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum’s payout ratio is currently 26.20%.

Institutional Trading of Occidental Petroleum

Several large investors have recently made changes to their positions in OXY. Axiom Investment Management LLC acquired a new position in Occidental Petroleum during the first quarter valued at $25,000. GKV Capital Management Co. Inc. acquired a new stake in Occidental Petroleum during the 1st quarter worth about $26,000. Portus Wealth Advisors LLC purchased a new position in shares of Occidental Petroleum during the 1st quarter valued at about $29,000. Caitlin John LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at about $29,000. Finally, Activest Wealth Management lifted its holdings in shares of Occidental Petroleum by 68.5% in the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 305 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OXY has been the subject of a number of research analyst reports. Mizuho raised their price target on shares of Occidental Petroleum from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. The Goldman Sachs Group raised shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 price objective on the stock in a report on Thursday, May 21st. Zacks Research downgraded Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday. UBS Group lowered their price target on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, Raymond James Financial boosted their price target on Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Nine investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.74.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.