Investors Sell Occidental Petroleum Corp. (OXY) on Strength on Insider Selling
Traders sold shares of Occidental Petroleum Corp. (NYSE:OXY) on strength during trading hours 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 companies tracked, Occidental Petroleum Corp. had the 0th 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 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen I. Chazen sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 14th. The shares were sold at an average price of $77.21, for a total value of $386,050.00. Following the completion of the sale, the director now owns 1,755,119 shares in the company, valued at $135,512,737.99. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
Several research firms have recently weighed in on OXY. Jefferies Group reiterated a “hold” rating on shares of Occidental Petroleum Corp. in a research note on Thursday, September 8th. Barclays PLC upped their price objective on Occidental Petroleum Corp. from $60.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, July 14th. Credit Suisse Group AG reiterated a “hold” rating and issued a $72.00 price objective on shares of Occidental Petroleum Corp. in a research note on Monday, September 12th. JPMorgan Chase & Co. lowered Occidental Petroleum Corp. from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $76.11 to $78.00 in a research note 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 objective on the stock. in a research note on Thursday, July 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $76.06.
The stock’s market capitalization is $56.18 billion. The company’s 50 day moving average price is $74.19 and its 200-day moving average price is $74.42.
Occidental Petroleum Corp. (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.18). The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Occidental Petroleum Corp. had a negative net margin of 71.82% and a negative return on equity of 2.64%. The firm’s quarterly revenue was down 27.0% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. On average, equities analysts expect that Occidental Petroleum Corp. will post ($0.71) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 9th will be paid a $0.76 dividend. The ex-dividend date 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%.
A number of hedge funds and other institutional investors have recently made changes to their positions in OXY. Kistler Tiffany Companies LLC boosted its position in shares of 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 during the period. First New York Securities LLC NY purchased a new position in shares of Occidental Petroleum Corp. during the second quarter worth about $110,000. LSV Asset Management bought a new stake in Occidental Petroleum Corp. during the second quarter worth $111,000. Oakworth Capital Inc. boosted 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 during the last quarter. Finally, SevenBridge Financial Group LLC bought a new stake in Occidental Petroleum Corp. during the second quarter worth $121,000. 80.80% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Stock Ratings for Occidental Petroleum Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum Corp. and related stocks with our FREE daily email newsletter.