Investors Sell Occidental Petroleum (OXY) on Strength (OXY)

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Traders sold shares of Occidental Petroleum Co. (NYSE:OXY) on strength during trading hours on Friday. $42.31 million flowed into the stock on the tick-up and $109.32 million flowed out of the stock on the tick-down, for a money net flow of $67.01 million out of the stock. Of all companies tracked, Occidental Petroleum had the 0th highest net out-flow for the day. Occidental Petroleum traded up $0.28 for the day and closed at $83.68

Several research firms have commented on OXY. Credit Suisse Group upped their price target on Occidental Petroleum from $76.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, May 9th. Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a report on Monday, May 14th. Scotiabank raised Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a report on Monday, May 21st. Mizuho began coverage on Occidental Petroleum in a report on Friday, June 8th. They issued a “buy” rating and a $102.00 price target for the company. Finally, ValuEngine raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Monday, April 9th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $81.13.

The stock has a market capitalization of $63.87 billion, a P/E ratio of 94.02, a P/E/G ratio of 2.93 and a beta of 0.62. The company has a quick ratio of 1.11, a current ratio of 1.26 and a debt-to-equity ratio of 0.50.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.21. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.63 billion. Occidental Petroleum had a return on equity of 6.15% and a net margin of 13.47%. Occidental Petroleum’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 EPS. equities analysts forecast that Occidental Petroleum Co. will post 4.49 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, June 11th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, June 8th. This represents a $3.08 dividend on an annualized basis and a yield of 3.68%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 346.07%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Stelac Advisory Services LLC bought a new stake in Occidental Petroleum during the 1st quarter worth approximately $112,000. Bedel Financial Consulting Inc. bought a new position in Occidental Petroleum in the 1st quarter valued at $114,000. Silvant Capital Management LLC bought a new position in Occidental Petroleum in the 1st quarter valued at $141,000. AdvisorNet Financial Inc boosted its position in Occidental Petroleum by 192.2% in the 1st quarter. AdvisorNet Financial Inc now owns 2,580 shares of the oil and gas producer’s stock valued at $168,000 after buying an additional 1,697 shares during the last quarter. Finally, Sandy Spring Bank boosted its position in Occidental Petroleum by 128.3% in the 1st quarter. Sandy Spring Bank now owns 2,758 shares of the oil and gas producer’s stock valued at $179,000 after buying an additional 1,550 shares during the last quarter. Institutional investors and hedge funds own 80.75% of the company’s stock.

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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