Occidental Petroleum Corporation (NYSE:OXY) saw some unusual options trading on Thursday. Traders acquired 65,792 call options on the company. This is an increase of approximately 2,491% compared to the typical volume of 2,539 call options.

Several hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new position in shares of Occidental Petroleum in the 3rd quarter worth $1,426,000. Optimum Investment Advisors purchased a new position in Occidental Petroleum during the third quarter valued at $200,000. Public Employees Retirement System of Ohio lifted its position in Occidental Petroleum by 0.5% during the third quarter. Public Employees Retirement System of Ohio now owns 530,472 shares of the oil and gas producer’s stock valued at $34,062,000 after purchasing an additional 2,497 shares in the last quarter. Wealthsource Partners LLC purchased a new position in Occidental Petroleum during the third quarter valued at $208,000. Finally, Cetera Advisor Networks LLC lifted its position in Occidental Petroleum by 10.4% during the third quarter. Cetera Advisor Networks LLC now owns 8,878 shares of the oil and gas producer’s stock valued at $570,000 after purchasing an additional 835 shares in the last quarter. Hedge funds and other institutional investors own 80.34% of the company’s stock.

Shares of Occidental Petroleum (NYSE:OXY) opened at $68.87 on Friday. The company has a market capitalization of $53,115.68, a price-to-earnings ratio of 198.31, a price-to-earnings-growth ratio of 14.08 and a beta of 0.65. Occidental Petroleum has a fifty-two week low of $57.20 and a fifty-two week high of $73.51. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.07. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) EPS. sell-side analysts expect that Occidental Petroleum will post 0.76 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Friday, December 8th. Occidental Petroleum’s payout ratio is 440.00%.

A number of research analysts recently weighed in on OXY shares. Cowen reaffirmed a “buy” rating and set a $80.00 price objective on shares of Occidental Petroleum in a research report on Thursday, September 28th. Bank of America raised their price objective on Occidental Petroleum from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Morgan Stanley raised their price objective on Occidental Petroleum from $62.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Finally, Jefferies Group raised their price objective on Occidental Petroleum from $62.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $67.27.

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Occidental Petroleum Company Profile

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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