Investors Buy Occidental Petroleum Corporation (OXY) on Weakness
Investors bought shares of Occidental Petroleum Corporation (NYSE:OXY) on weakness during trading hours on Monday. $46.33 million flowed into the stock on the tick-up and $29.01 million flowed out of the stock on the tick-down, for a money net flow of $17.32 million into the stock. Of all equities tracked, Occidental Petroleum Corporation had the 19th highest net in-flow for the day. Occidental Petroleum Corporation traded down ($0.10) for the day and closed at $64.11
Several equities research analysts have weighed in on OXY shares. Cowen and Company reiterated a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum Corporation in a report on Thursday, September 28th. Jefferies Group LLC set a $64.00 price objective on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Saturday, July 29th. Barclays PLC set a $38.00 target price on Occidental Petroleum Corporation and gave the company a “sell” rating in a research note on Friday, August 4th. Zacks Investment Research raised Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, BidaskClub upgraded Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $65.50.
The firm has a 50 day moving average price of $61.27 and a 200 day moving average price of $61.27. The firm has a market cap of $48.92 billion, a price-to-earnings ratio of 450.56 and a beta of 0.67.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The business’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) earnings per share. On average, equities analysts expect that Occidental Petroleum Corporation will post $0.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be paid a $0.77 dividend. The ex-dividend date is Friday, September 8th. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a yield of 4.81%. Occidental Petroleum Corporation’s dividend payout ratio is 2,369.23%.
In other Occidental Petroleum Corporation news, Director William R. Klesse bought 10,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were acquired at an average price of $61.58 per share, with a total value of $615,800.00. Following the transaction, the director now owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in OXY. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Occidental Petroleum Corporation during the first quarter valued at approximately $102,000. Grove Bank & Trust raised its stake in Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 622 shares in the last quarter. Mosaic Family Wealth LLC raised its stake in Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 72 shares in the last quarter. Oakworth Capital Inc. raised its stake in Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after buying an additional 250 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 264 shares in the last quarter. 80.60% of the stock is owned by hedge funds and other institutional investors.
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Occidental Petroleum Corporation 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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