Occidental Petroleum Corp. (OXY) Director Stephen I. Chazen Sells 9,000 Shares
Occidental Petroleum Corp. (NYSE:OXY) Director Stephen I. Chazen sold 9,000 shares of the company’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 transaction, the director now owns 1,637,119 shares in the company, valued at approximately $119,820,739.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Occidental Petroleum Corp. (NYSE:OXY) opened at 73.54 on Friday. The company’s market capitalization is $56.18 billion. The firm has a 50 day moving average of $74.30 and a 200-day moving average of $74.40. Occidental Petroleum Corp. has a 52-week low of $58.24 and a 52-week high of $78.48.
Occidental Petroleum Corp. (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.18). Occidental Petroleum Corp. had a negative net margin of 71.82% and a negative return on equity of 2.64%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period last year, the business earned $0.21 EPS. The company’s revenue was down 27.0% compared to the same quarter last year. Equities analysts expect that Occidental Petroleum Corp. will post ($0.71) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 9th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.13%. Occidental Petroleum Corp.’s dividend payout ratio is currently -29.57%.
Several research analysts have recently issued reports on the stock. Jefferies Group reiterated a “hold” rating on shares of Occidental Petroleum Corp. in a research note on Sunday, July 10th. Deutsche Bank AG downgraded shares of Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 target price on the stock. in a research note on Friday, August 5th. Morgan Stanley downgraded shares of Occidental Petroleum Corp. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $58.24 to $70.00 in a research note on Monday, June 13th. They noted that the move was a valuation call. Credit Agricole SA reiterated a “buy” rating on shares of Occidental Petroleum Corp. in a research note on Tuesday, August 16th. Finally, Barclays PLC upped their target price on shares of Occidental Petroleum Corp. from $60.00 to $61.00 and gave the stock an “underweight” rating in a research note on Thursday, July 14th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $76.06.
Several hedge funds have recently added to or reduced their stakes in the stock. Ruffer LLP boosted its stake in Occidental Petroleum Corp. by 36.4% in the first quarter. Ruffer LLP now owns 30,000 shares of the company’s stock worth $2,053,000 after buying an additional 8,000 shares during the period. NWQ Investment Management Company LLC boosted its stake in Occidental Petroleum Corp. by 1.2% in the first quarter. NWQ Investment Management Company LLC now owns 1,572,888 shares of the company’s stock worth $107,633,000 after buying an additional 18,747 shares during the period. Carnick & Kubik LLC boosted its stake in Occidental Petroleum Corp. by 1.4% in the first quarter. Carnick & Kubik LLC now owns 10,920 shares of the company’s stock worth $747,000 after buying an additional 150 shares during the period. Aviva PLC boosted its stake in Occidental Petroleum Corp. by 18.9% in the first quarter. Aviva PLC now owns 595,773 shares of the company’s stock worth $40,769,000 after buying an additional 94,743 shares during the period. Finally, Investec Asset Management North America Inc. boosted its stake in Occidental Petroleum Corp. by 14.9% in the first quarter. Investec Asset Management North America Inc. now owns 123,789 shares of the company’s stock worth $8,471,000 after buying an additional 16,085 shares during the period. Institutional investors and hedge funds own 80.80% of the company’s stock.
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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