Traders Buy Occidental Petroleum (OXY) on Weakness

Investors purchased shares of Occidental Petroleum (NYSE:OXY) on weakness during trading on Wednesday. $128.04 million flowed into the stock on the tick-up and $53.50 million flowed out of the stock on the tick-down, for a money net flow of $74.54 million into the stock. Of all stocks tracked, Occidental Petroleum had the 3rd highest net in-flow for the day. Occidental Petroleum traded down ($0.01) for the day and closed at $66.62

OXY has been the topic of a number of research analyst reports. Cowen set a $85.00 price objective on shares of Occidental Petroleum and gave the stock a “buy” rating in a report on Thursday, January 18th. Deutsche Bank raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Friday, March 23rd. Morgan Stanley boosted their price objective on shares of Occidental Petroleum from $66.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Zacks Investment Research downgraded shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 13th. Finally, BMO Capital Markets reissued a “hold” rating and set a $75.00 price objective on shares of Occidental Petroleum in a report on Tuesday, February 27th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $72.29.

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The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $50,974.21, a PE ratio of 74.85, a PEG ratio of 3.88 and a beta of 0.65.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. During the same quarter in the previous year, the business posted ($0.13) earnings per share. research analysts forecast that Occidental Petroleum will post 2.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s payout ratio is currently 346.07%.

A number of institutional investors and hedge funds have recently made changes to their positions in OXY. Tompkins Financial Corp raised its position in shares of Occidental Petroleum by 1.9% in the fourth quarter. Tompkins Financial Corp now owns 36,177 shares of the oil and gas producer’s stock valued at $2,664,000 after buying an additional 661 shares during the last quarter. Koshinski Asset Management Inc. raised its position in shares of Occidental Petroleum by 3.8% in the fourth quarter. Koshinski Asset Management Inc. now owns 18,357 shares of the oil and gas producer’s stock valued at $1,352,000 after buying an additional 679 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Occidental Petroleum by 25.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas producer’s stock valued at $261,000 after buying an additional 714 shares during the last quarter. Hermes Investment Management Ltd. raised its position in shares of Occidental Petroleum by 1.6% in the fourth quarter. Hermes Investment Management Ltd. now owns 45,172 shares of the oil and gas producer’s stock valued at $3,327,000 after buying an additional 720 shares during the last quarter. Finally, Lenox Wealth Management Inc. raised its position in shares of Occidental Petroleum by 7.0% in the fourth quarter. Lenox Wealth Management Inc. now owns 12,593 shares of the oil and gas producer’s stock valued at $937,000 after buying an additional 824 shares during the last quarter. Institutional investors own 82.69% of the company’s stock.

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Occidental Petroleum Company Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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