Occidental Petroleum Sees Significant Increase in Short Interest (OXY)
Shares of Occidental Petroleum (NYSE:OXY) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 10,671,149 shares, a growth of 31.3% from the March 31st total of 8,124,885 shares, AnalystRatingsNetwork reports. Based on an average trading volume of 4,296,199 shares, the short-interest ratio is presently 2.5 days. Approximately 1.4% of the company’s stock are short sold.
A number of research firms have recently commented on OXY. Analysts at Zacks reiterated a “neutral” rating on shares of Occidental Petroleum in a research note on Tuesday. They now have a $99.00 price target on the stock. Separately, analysts at Credit Suisse cut their price target on shares of Occidental Petroleum from $120.00 to $115.00 in a research note on Tuesday. Finally, analysts at Guggenheim raised their price target on shares of Occidental Petroleum from $111.00 to $112.00 in a research note on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Occidental Petroleum presently has a consensus rating of “Buy” and a consensus price target of $107.12.
Occidental Petroleum (NYSE:OXY) opened at 96.23 on Thursday. Occidental Petroleum has a one year low of $84.91 and a one year high of $99.42. The stock’s 50-day moving average is $95.30 and its 200-day moving average is $94.43. The company has a market cap of $76.479 billion and a price-to-earnings ratio of 13.10.
Occidental Petroleum (NYSE:OXY) last released its earnings data on Monday, May 5th. The company reported $1.75 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.70 by $0.05. The company had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter last year, the company posted $1.69 earnings per share. Occidental Petroleum’s revenue was up 3.7% compared to the same quarter last year. On average, analysts predict that Occidental Petroleum will post $7.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, June 6th.
Occidental Petroleum Corporation (NYSE:OXY) conducts its operations through various subsidiaries and affiliates.
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