Occidental Petroleum Corp. (OXY) Director Sells $598,860.00 in Stock
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, November 10th. The stock was sold at an average price of $66.54, for a total transaction of $598,860.00. Following the completion of the transaction, the director now owns 1,592,119 shares in the company, valued at $105,939,598.26. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Occidental Petroleum Corp. (NYSE:OXY) opened at 65.77 on Tuesday. The company has a 50 day moving average of $71.50 and a 200-day moving average of $74.46. The stock’s market capitalization is $50.26 billion. 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 data on Tuesday, November 1st. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by $0.04. Occidental Petroleum Corp. had a negative return on equity of 3.43% and a negative net margin of 52.62%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Occidental Petroleum Corp.’s quarterly revenue was down 15.0% compared to the same quarter last year. Equities research analysts anticipate that Occidental Petroleum Corp. will post ($0.85) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 9th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $3.04 annualized dividend and a yield of 4.62%. Occidental Petroleum Corp.’s dividend payout ratio is currently -42.34%.
Large investors have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. increased its stake in Occidental Petroleum Corp. by 11.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 52,946 shares of the company’s stock valued at $3,620,000 after buying an additional 5,640 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Occidental Petroleum Corp. during the first quarter valued at about $1,827,000. Seven Eight Capital LLC acquired a new stake in Occidental Petroleum Corp. during the first quarter valued at about $1,611,000. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Occidental Petroleum Corp. during the first quarter valued at about $377,000. Finally, Moore Capital Management LP acquired a new stake in Occidental Petroleum Corp. during the first quarter valued at about $6,159,000. Institutional investors own 80.39% of the company’s stock.
Several equities analysts have recently commented on OXY shares. Mizuho started coverage on shares of Occidental Petroleum Corp. in a report on Wednesday, October 5th. They issued a “buy” rating and a $83.00 price objective on the stock. Credit Agricole SA restated a “buy” rating on shares of Occidental Petroleum Corp. in a report on Tuesday, August 16th. Jefferies Group reiterated a “hold” rating on shares of Occidental Petroleum Corp. in a report on Thursday, September 8th. Deutsche Bank AG lowered 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 report on Friday, August 5th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $72.00 target price on shares of Occidental Petroleum Corp. in a report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $75.74.
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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