Avedick Baruyr Poladian Buys 5,000 Shares of Occidental Petroleum Co. (NYSE:OXY) Stock

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Occidental Petroleum Co. (NYSE:OXY) Director Avedick Baruyr Poladian bought 5,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was bought at an average price of $48.77 per share, for a total transaction of $243,850.00. Following the transaction, the director now owns 60,319 shares of the company’s stock, valued at $2,941,757.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of OXY stock traded down $0.47 during trading on Friday, reaching $49.26. The company’s stock had a trading volume of 290,399 shares, compared to its average volume of 11,706,192. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.23. The stock has a market capitalization of $36.49 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86. Occidental Petroleum Co. has a 1-year low of $47.00 and a 1-year high of $86.60.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. On average, research analysts forecast that Occidental Petroleum Co. will post 3.86 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 62.28%.

Several hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $475,929,000. Oregon Public Employees Retirement Fund grew its holdings in Occidental Petroleum by 5,978.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,105,650 shares of the oil and gas producer’s stock worth $83,000 after acquiring an additional 5,021,655 shares in the last quarter. Millennium Management LLC grew its holdings in Occidental Petroleum by 401.0% during the 4th quarter. Millennium Management LLC now owns 3,275,239 shares of the oil and gas producer’s stock worth $201,034,000 after acquiring an additional 2,621,463 shares in the last quarter. Wellington Management Group LLP grew its holdings in Occidental Petroleum by 24.1% during the 1st quarter. Wellington Management Group LLP now owns 12,115,645 shares of the oil and gas producer’s stock worth $802,056,000 after acquiring an additional 2,353,220 shares in the last quarter. Finally, Vanguard Group Inc grew its holdings in Occidental Petroleum by 2.2% during 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 acquiring an additional 1,370,841 shares in the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

OXY has been the topic of several research analyst reports. Royal Bank of Canada lifted their target price on shares of Occidental Petroleum to $76.00 in a research report on Tuesday, May 7th. Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, April 16th. Morgan Stanley set a $72.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a research note on Thursday, February 14th. Raymond James set a $80.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a research note on Thursday, May 23rd. Finally, TheStreet downgraded shares of Occidental Petroleum from a “b-” rating to a “c+” rating in a research note on Friday, May 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $75.30.

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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.

See Also: Cost of Capital

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