Occidental Petroleum Co. (OXY) Director Stephen I. Chazen Sells 4,000 Shares

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.

Insider Buying and Selling by Quarter for Occidental Petroleum (NYSE:OXY)

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.

12 Month Chart for NYSE:OXY

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