Occidental Petroleum Co. (NYSE:OXY) Director Stephen I. Chazen sold 4,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $63.27, for a total transaction of $253,080.00. Following the completion of the sale, the director now directly owns 1,492,619 shares of the company’s stock, valued at $94,438,004.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Occidental Petroleum Co. (NYSE:OXY) opened at 63.66 on Tuesday. The stock’s 50 day moving average is $65.97 and its 200 day moving average is $69.97. Occidental Petroleum Co. has a 12-month low of $61.01 and a 12-month high of $78.48. The firm’s market cap is $48.65 billion.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Thursday, February 9th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $0.10. The firm earned $2.83 billion during the quarter, compared to analyst estimates of $2.70 billion. Occidental Petroleum had a negative net margin of 5.52% and a negative return on equity of 3.40%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) earnings per share. On average, equities research analysts expect that Occidental Petroleum Co. will post $1.13 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 10th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 4.78%. The ex-dividend date is Wednesday, March 8th. Occidental Petroleum’s dividend payout ratio is currently -400.00%.
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A number of analysts recently weighed in on the stock. Bank of America Corp raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 15th. Credit Suisse Group AG raised shares of Occidental Petroleum from a “neutral” rating to an “outperform” rating and increased their price target for the company from $70.00 to $79.00 in a research report on Tuesday, March 14th. They noted that the move was a valuation call. Evercore ISI lowered shares of Occidental Petroleum to a “buy” rating in a research report on Friday, March 3rd. Mizuho lowered shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and decreased their price target for the company from $87.00 to $70.00 in a research report on Monday, February 13th. Finally, Scotiabank reissued a “hold” rating on shares of Occidental Petroleum in a research report on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Occidental Petroleum currently has an average rating of “Hold” and an average target price of $73.66.
A number of institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in Occidental Petroleum during the third quarter valued at $1,302,000. Nordea Investment Management AB increased its position in Occidental Petroleum by 2.4% in the third quarter. Nordea Investment Management AB now owns 849,837 shares of the company’s stock valued at $61,970,000 after buying an additional 19,902 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Occidental Petroleum by 2.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 20,633,733 shares of the company’s stock valued at $1,504,612,000 after buying an additional 475,496 shares in the last quarter. Quadrant Capital Management LLC increased its position in Occidental Petroleum by 0.6% in the third quarter. Quadrant Capital Management LLC now owns 19,454 shares of the company’s stock valued at $1,419,000 after buying an additional 125 shares in the last quarter. Finally, CWM LLC increased its position in Occidental Petroleum by 14.5% in the third quarter. CWM LLC now owns 352,319 shares of the company’s stock valued at $25,691,000 after buying an additional 44,628 shares in the last quarter. 80.07% of the stock is owned by institutional investors.
About Occidental Petroleum
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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