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 stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $73.80, for a total transaction of $664,200.00. Following the transaction, the director now directly owns 1,628,119 shares in the company, valued at $120,155,182.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Occidental Petroleum Corp. (NYSE:OXY) opened at 73.90 on Friday. The firm’s market cap is $56.45 billion. The company has a 50 day moving average of $73.87 and a 200-day moving average of $74.53. Occidental Petroleum Corp. has a one year low of $58.24 and a one year high of $78.48.
Occidental Petroleum Corp. (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.18) EPS for the quarter, meeting 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 business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same quarter in the prior year, the business earned $0.21 EPS. Occidental Petroleum Corp.’s quarterly revenue was down 27.0% on a year-over-year basis. On average, analysts expect that Occidental Petroleum Corp. will post ($0.71) EPS for the current year.
The business also recently declared 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 of this dividend is Wednesday, December 7th. This represents a $3.04 dividend on an annualized basis and a yield of 4.11%. Occidental Petroleum Corp.’s dividend payout ratio (DPR) is currently -29.57%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Premier Asset Managment LLC bought a new position in shares of Occidental Petroleum Corp. during the third quarter worth approximately $665,000. Private Trust Co. NA raised its position in shares of Occidental Petroleum Corp. by 18.3% in the third quarter. Private Trust Co. NA now owns 10,945 shares of the company’s stock worth $798,000 after buying an additional 1,692 shares during the period. Tompkins Financial Corp raised its position in shares of Occidental Petroleum Corp. by 1.9% in the third quarter. Tompkins Financial Corp now owns 30,859 shares of the company’s stock worth $2,250,000 after buying an additional 575 shares during the period. Adams Asset Advisors LLC raised its position in shares of Occidental Petroleum Corp. by 41.3% in the third quarter. Adams Asset Advisors LLC now owns 5,854,845 shares of the company’s stock worth $426,935,000 after buying an additional 1,711,198 shares during the period. Finally, Hollencrest Securities LLC raised its position in shares of Occidental Petroleum Corp. by 3.8% in the third quarter. Hollencrest Securities LLC now owns 4,312 shares of the company’s stock worth $314,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 80.80% of the company’s stock.
Several brokerages have recently issued reports on OXY. Jefferies Group reaffirmed a “hold” rating on shares of Occidental Petroleum Corp. in a research report on Sunday, July 10th. Deutsche Bank AG downgraded Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 price target on the stock. in a research report on Friday, August 5th. Credit Agricole SA reaffirmed a “buy” rating on shares of Occidental Petroleum Corp. in a research report on Tuesday, August 16th. Barclays PLC raised 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. Finally, Raymond James Financial Inc. downgraded 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 equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $76.06.
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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