Occidental Petroleum’s (OXY) Sell Rating Reaffirmed at Barclays PLC

Barclays PLC reaffirmed their sell rating on shares of Occidental Petroleum Co. (NYSE:OXY) in a research report released on Thursday, April 20th. Barclays PLC currently has a $50.00 target price on the oil and gas producer’s stock, down from their previous target price of $62.00.

Other equities analysts have also issued research reports about the company. BMO Capital Markets lowered Occidental Petroleum from an outperform rating to a market perform rating and set a $70.00 target price on the stock. in a report on Wednesday, January 11th. They noted that the move was a valuation call. Simmons increased their target price on Occidental Petroleum from $71.00 to $75.00 and gave the company a neutral rating in a report on Wednesday, April 19th. Scotiabank reissued a hold rating on shares of Occidental Petroleum in a report on Friday, February 10th. Jefferies Group LLC reissued a hold rating and issued a $73.00 target price on shares of Occidental Petroleum in a report on Friday, March 31st. Finally, Mizuho restated a neutral rating and issued a $67.00 price objective on shares of Occidental Petroleum in a research note on Tuesday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $71.51.

Shares of Occidental Petroleum (NYSE:OXY) opened at 60.64 on Thursday. The firm’s market cap is $46.36 billion. The stock has a 50 day moving average price of $61.94 and a 200-day moving average price of $66.35. Occidental Petroleum has a 52-week low of $57.20 and a 52-week high of $78.48.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 EPS for the quarter, beating the consensus estimate of $0.14 by $0.01. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.96 billion. Occidental Petroleum had a negative return on equity of 3.40% and a negative net margin of 5.52%. Occidental Petroleum’s revenue for the quarter was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.47) earnings per share. On average, equities analysts anticipate that Occidental Petroleum will post $1.01 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 9th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $3.04 annualized dividend and a yield of 5.04%. Occidental Petroleum’s dividend payout ratio is currently -400.00%.

In related news, insider Vicki A. Hollub bought 15,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was bought at an average cost of $62.72 per share, with a total value of $940,800.00. Following the completion of the acquisition, the insider now owns 76,018 shares in the company, valued at approximately $4,767,848.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen I. Chazen sold 4,000 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $60.53, for a total transaction of $242,120.00. Following the completion of the transaction, the director now directly owns 1,460,619 shares of the company’s stock, valued at $88,411,268.07. The disclosure for this sale can be found here. Insiders have sold 48,000 shares of company stock valued at $3,030,960 over the last three months. 0.35% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Occidental Petroleum during the first quarter worth about $102,000. Apriem Advisors boosted its position in shares of Occidental Petroleum by 24.8% in the third quarter. Apriem Advisors now owns 1,522 shares of the oil and gas producer’s stock worth $111,000 after buying an additional 302 shares during the period. Financial Architects Inc boosted its position in shares of Occidental Petroleum by 47.5% in the third quarter. Financial Architects Inc now owns 1,524 shares of the oil and gas producer’s stock worth $112,000 after buying an additional 491 shares during the period. Enterprise Financial Services Corp boosted its position in shares of Occidental Petroleum by 36.3% in the third quarter. Enterprise Financial Services Corp now owns 1,553 shares of the oil and gas producer’s stock worth $113,000 after buying an additional 414 shares during the period. Finally, Oakworth Capital Inc. boosted its position in shares of Occidental Petroleum by 4.9% in the third quarter. Oakworth Capital Inc. now owns 1,596 shares of the oil and gas producer’s stock worth $116,000 after buying an additional 75 shares during the period. 80.07% of the stock is owned by institutional investors.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

12 Month Chart for NYSE:OXY

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