Investors Sell Occidental Petroleum Corp. (OXY) on Strength Following Insider Selling
Traders sold shares of Occidental Petroleum Corp. (NYSE:OXY) on strength during trading on Friday after an insider sold shares in the company. $49.15 million flowed into the stock on the tick-up and $81.41 million flowed out of the stock on the tick-down, for a money net flow of $32.26 million out of the stock. Of all equities tracked, Occidental Petroleum Corp. had the 27th highest net out-flow for the day. Occidental Petroleum Corp. traded up $1.00 for the day and closed at $73.54Specifically, Director Stephen I. Chazen sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $73.95, for a total value of $369,750.00. Following the completion of the sale, the director now directly owns 1,745,119 shares of the company’s stock, valued at $129,051,550.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen I. Chazen sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $73.19, for a total transaction of $658,710.00. Following the completion of the sale, the director now directly owns 1,637,119 shares of the company’s stock, valued at $119,820,739.61. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.
Several analysts have commented on the stock. Jefferies Group reissued a “hold” rating on shares of Occidental Petroleum Corp. in a research report on Sunday, July 10th. Morgan Stanley downgraded shares of Occidental Petroleum Corp. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $58.24 to $70.00 in a research report on Monday, June 13th. They noted that the move was a valuation call. Deutsche Bank AG downgraded shares of Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 target price for the company. in a research report on Friday, August 5th. Credit Suisse Group AG reissued a “hold” rating and issued a $72.00 target price on shares of Occidental Petroleum Corp. in a research report on Monday, September 12th. Finally, Raymond James Financial Inc. downgraded shares of Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 target price for the company. in a research report on Thursday, July 7th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $76.06.
The stock’s market cap is $56.18 billion. The firm has a 50 day moving average of $74.19 and a 200-day moving average of $74.42.
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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 Zacks’ consensus estimate of ($0.18). Occidental Petroleum Corp. had a negative net margin of 71.82% and a negative return on equity of 2.64%. The firm earned $2.53 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period in the previous year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was down 27.0% compared to the same quarter last year. On average, equities research analysts expect that Occidental Petroleum Corp. will post ($0.71) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 9th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $3.04 dividend on an annualized basis and a yield of 4.13%. Occidental Petroleum Corp.’s dividend payout ratio (DPR) is -29.57%.
Institutional investors have recently added to or reduced their stakes in the company. Kistler Tiffany Companies LLC increased its stake in Occidental Petroleum Corp. by 1.4% in the second quarter. Kistler Tiffany Companies LLC now owns 1,346 shares of the company’s stock worth $102,000 after buying an additional 19 shares in the last quarter. First New York Securities LLC NY purchased a new stake in Occidental Petroleum Corp. during the second quarter worth $110,000. LSV Asset Management purchased a new stake in Occidental Petroleum Corp. during the second quarter worth $111,000. Oakworth Capital Inc. increased its stake in Occidental Petroleum Corp. by 7.0% in the second quarter. Oakworth Capital Inc. now owns 1,521 shares of the company’s stock worth $115,000 after buying an additional 100 shares in the last quarter. Finally, SevenBridge Financial Group LLC purchased a new stake in Occidental Petroleum Corp. during the second quarter worth $121,000. 80.80% of the stock is owned by hedge funds and other institutional investors.
Occidental Petroleum Corp. Company Profile
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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