Occidental Petroleum (NYSE:OXY) CEO Richard Jackson Acquires 4,770 Shares

Occidental Petroleum Corporation (NYSE:OXY) CEO Richard Jackson acquired 4,770 shares of the stock in a transaction on Tuesday, June 23rd. The shares were bought at an average price of $52.38 per share, with a total value of $249,852.60. Following the purchase, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Occidental Petroleum Trading Down 2.2%

NYSE OXY opened at $51.08 on Thursday. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average price is $56.56 and its 200-day moving average price is $51.73. The stock has a market cap of $50.81 billion, a P/E ratio of 12.87 and a beta of 0.14.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.46. The firm had revenue of $5.11 billion during the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.Occidental Petroleum’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. As a group, equities analysts forecast that Occidental Petroleum Corporation will post 5.79 EPS for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 2.0%. Occidental Petroleum’s payout ratio is 26.20%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Occidental Petroleum by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock worth $3,696,716,000 after purchasing an additional 699,137 shares during the period. State Street Corp lifted its holdings in shares of Occidental Petroleum by 2.1% during the 4th quarter. State Street Corp now owns 39,539,743 shares of the oil and gas producer’s stock valued at $1,635,263,000 after buying an additional 828,848 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Occidental Petroleum by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 18,846,231 shares of the oil and gas producer’s stock valued at $771,949,000 after buying an additional 167,518 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Occidental Petroleum by 21.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 10,602,660 shares of the oil and gas producer’s stock worth $436,008,000 after buying an additional 1,883,721 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Occidental Petroleum by 18.9% in the fourth quarter. Invesco Ltd. now owns 6,730,847 shares of the oil and gas producer’s stock worth $276,772,000 after acquiring an additional 1,071,948 shares during the period. 88.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on OXY. Zacks Research downgraded shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. lowered their price objective on Occidental Petroleum from $64.00 to $63.00 in a research report on Thursday, May 7th. BMO Capital Markets increased their target price on Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. Argus raised Occidental Petroleum to a “hold” rating in a report on Friday, February 27th. Finally, Roth Mkm boosted their price target on Occidental Petroleum from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Nine analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Occidental Petroleum currently has an average rating of “Hold” and an average target price of $63.74.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.