Occidental Petroleum Co. (NYSE:OXY) Director Stephen I. Chazen sold 4,000 shares of the stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $62.88, for a total transaction of $251,520.00. Following the completion of the transaction, the director now owns 1,472,619 shares of the company’s stock, valued at approximately $92,598,282.72. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Occidental Petroleum Co. (NYSE:OXY) opened at 60.64 on Friday. The firm’s 50-day moving average is $61.94 and its 200 day moving average is $66.35. Occidental Petroleum Co. has a one year low of $57.20 and a one year high of $78.48. The firm’s market capitalization is $46.36 billion.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Thursday, May 4th. The oil and gas producer reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Occidental Petroleum had a negative return on equity of 3.40% and a negative net margin of 5.52%. The company had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the company posted ($0.47) earnings per share. The firm’s revenue was up 30.6% on a year-over-year basis. Equities research analysts predict that Occidental Petroleum Co. will post $1.01 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 9th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 5.04%. The ex-dividend date is Wednesday, June 7th. Occidental Petroleum’s dividend payout ratio (DPR) is -400.00%.
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A number of large investors have recently added to or reduced their stakes in OXY. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Occidental Petroleum during the first quarter valued at approximately $102,000. Apriem Advisors increased its stake in Occidental Petroleum by 24.8% in the third quarter. Apriem Advisors now owns 1,522 shares of the oil and gas producer’s stock valued at $111,000 after buying an additional 302 shares during the period. Financial Architects Inc increased its stake in 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 valued at $112,000 after buying an additional 491 shares during the period. Enterprise Financial Services Corp increased its stake in 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 valued at $113,000 after buying an additional 414 shares during the period. Finally, Oakworth Capital Inc. increased its stake in 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 valued at $116,000 after buying an additional 75 shares during the period. 80.07% of the stock is currently owned by institutional investors and hedge funds.
OXY has been the subject of a number of recent analyst reports. Barclays PLC dropped their target price on shares of Occidental Petroleum from $63.00 to $62.00 and set an “underweight” rating for the company in a research report on Thursday, January 26th. Scotiabank reissued a “hold” rating on shares of Occidental Petroleum in a report on Friday, February 10th. Mizuho raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating in a report on Monday, February 13th. They noted that the move was a valuation call. Evercore ISI lowered shares of Occidental Petroleum to a “buy” rating in a report on Friday, March 3rd. Finally, Credit Suisse Group AG raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $70.00 to $79.00 in a report on Tuesday, March 14th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $71.51.
About Occidental Petroleum
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.
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