Investors Buy Occidental Petroleum (OXY) on Weakness

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Traders purchased shares of Occidental Petroleum Co. (NYSE:OXY) on weakness during trading on Thursday. $116.51 million flowed into the stock on the tick-up and $77.09 million flowed out of the stock on the tick-down, for a money net flow of $39.42 million into the stock. Of all companies tracked, Occidental Petroleum had the 33rd highest net in-flow for the day. Occidental Petroleum traded down ($0.19) for the day and closed at $66.78

A number of equities research analysts have weighed in on OXY shares. Mitsubishi UFJ Financial Group decreased their target price on shares of Occidental Petroleum to $92.00 and set a “neutral” rating for the company in a research note on Tuesday, October 16th. Raymond James upgraded shares of Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a research note on Monday, October 22nd. They noted that the move was a valuation call. Cowen started coverage on shares of Occidental Petroleum in a research note on Thursday, November 29th. They set a “market perform” rating and a $80.00 target price for the company. Capital One Financial lowered shares of Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. Finally, BMO Capital Markets reiterated a “neutral” rating on shares of Occidental Petroleum in a research note on Wednesday, November 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $87.16.

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.21 and a current ratio of 1.33. The stock has a market cap of $50.23 billion, a PE ratio of 75.03, a price-to-earnings-growth ratio of 3.05 and a beta of 0.88.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.26. Occidental Petroleum had a net margin of 22.19% and a return on equity of 15.43%. The firm had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, equities analysts anticipate that Occidental Petroleum Co. will post 4.94 earnings per share for the current year.

Several hedge funds have recently modified their holdings of OXY. Vanguard Group Inc. boosted its holdings in Occidental Petroleum by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 62,477,713 shares of the oil and gas producer’s stock worth $5,133,793,000 after buying an additional 1,370,841 shares during the period. Vanguard Group Inc boosted its holdings in Occidental Petroleum by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock worth $5,133,793,000 after buying an additional 1,370,841 shares during the period. BlackRock Inc. boosted its holdings in Occidental Petroleum by 3.4% in the 3rd quarter. BlackRock Inc. now owns 52,574,756 shares of the oil and gas producer’s stock worth $4,320,067,000 after buying an additional 1,732,733 shares during the period. Capital World Investors boosted its holdings in Occidental Petroleum by 9.6% in the 3rd quarter. Capital World Investors now owns 23,423,802 shares of the oil and gas producer’s stock worth $1,924,734,000 after buying an additional 2,056,863 shares during the period. Finally, Dodge & Cox boosted its holdings in Occidental Petroleum by 58.7% in the 3rd quarter. Dodge & Cox now owns 9,887,895 shares of the oil and gas producer’s stock worth $812,488,000 after buying an additional 3,656,670 shares during the period. 81.34% of the stock is owned by hedge funds and other institutional investors.

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Occidental Petroleum Company Profile (NYSE:OXY)

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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