Investors Sell Occidental Petroleum Corp. (OXY) on Strength (OXY)
Traders sold shares of Occidental Petroleum Corp. (NYSE:OXY) on strength during trading hours on Wednesday. $50.82 million flowed into the stock on the tick-up and $81.97 million flowed out of the stock on the tick-down, for a money net flow of $31.15 million out of the stock. Of all companies tracked, Occidental Petroleum Corp. had the 0th highest net out-flow for the day. Occidental Petroleum Corp. traded up $1.30 for the day and closed at $71.80
Several research firms recently weighed in on OXY. Jefferies Group restated a “hold” rating on shares of Occidental Petroleum Corp. in a research report on Thursday, September 8th. Barclays PLC lifted their price target on Occidental Petroleum Corp. from $60.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, July 14th. Credit Suisse Group AG restated a “hold” rating and set a $72.00 price target on shares of Occidental Petroleum Corp. in a research report on Monday, September 12th. JPMorgan Chase & Co. lowered Occidental Petroleum Corp. from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $76.11 to $78.00 in a research report on Monday, September 12th. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. lowered Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 price target on the stock. in a research report on Thursday, July 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $75.59.
The company has a 50 day moving average price of $75.23 and a 200 day moving average price of $74.25. The company’s market capitalization is $54.85 billion.
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Occidental Petroleum Corp. (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) EPS for the quarter, hitting the consensus estimate of ($0.18). The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.73 billion. Occidental Petroleum Corp. had a negative return on equity of 2.64% and a negative net margin of 71.82%. Occidental Petroleum Corp.’s quarterly revenue was down 27.0% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. On average, equities analysts expect that Occidental Petroleum Corp. will post ($0.69) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 4.23%. The ex-dividend date is Wednesday, September 7th. This is a boost from Occidental Petroleum Corp.’s previous quarterly dividend of $0.75. Occidental Petroleum Corp.’s dividend payout ratio (DPR) is -29.57%.
In other Occidental Petroleum Corp. news, Director Stephen I. Chazen sold 5,000 shares of the stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $74.47, for a total transaction of $372,350.00. Following the sale, the director now owns 1,765,119 shares of the company’s stock, valued at approximately $131,448,411.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen I. Chazen sold 9,000 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $73.76, for a total value of $663,840.00. Following the sale, the director now directly owns 1,738,119 shares in the company, valued at approximately $128,203,657.44. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Capital International Investors boosted its stake in shares of Occidental Petroleum Corp. by 193.7% in the second quarter. Capital International Investors now owns 6,011,047 shares of the company’s stock valued at $454,195,000 after buying an additional 3,964,244 shares during the period. Davis Selected Advisers boosted its stake in shares of Occidental Petroleum Corp. by 45.2% in the second quarter. Davis Selected Advisers now owns 8,402,549 shares of the company’s stock valued at $634,897,000 after buying an additional 2,616,481 shares during the period. BlackRock Advisors LLC boosted its stake in shares of Occidental Petroleum Corp. by 42.3% in the second quarter. BlackRock Advisors LLC now owns 7,569,695 shares of the company’s stock valued at $571,966,000 after buying an additional 2,250,546 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Occidental Petroleum Corp. during the second quarter valued at about $147,818,000. Finally, Cohen & Steers Inc. boosted its stake in shares of Occidental Petroleum Corp. by 77,575.8% in the second quarter. Cohen & Steers Inc. now owns 1,708,867 shares of the company’s stock valued at $222,836,000 after buying an additional 1,706,667 shares during the period. 80.80% of the stock is currently owned by institutional investors and hedge funds.
About Occidental Petroleum Corp.
Occidental Petroleum Corporation 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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