Investors Buy Shares of Occidental Petroleum Co. (OXY) on Weakness

Traders bought shares of Occidental Petroleum Co. (NYSE:OXY) on weakness during trading on Tuesday. $54.37 million flowed into the stock on the tick-up and $21.19 million flowed out of the stock on the tick-down, for a money net flow of $33.18 million into the stock. Of all stocks tracked, Occidental Petroleum had the 21st highest net in-flow for the day. Occidental Petroleum traded down ($0.13) for the day and closed at $64.64

OXY has been the subject of a number of research analyst reports. BidaskClub cut Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC set a $58.00 target price on Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, August 29th. BMO Capital Markets set a $60.00 target price on Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, October 10th. Barclays PLC raised their price objective on Occidental Petroleum from $38.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, October 11th. Finally, Wolfe Research raised Occidental Petroleum from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Occidental Petroleum has an average rating of “Hold” and a consensus price target of $65.71.

The company has a 50 day moving average price of $62.49 and a 200-day moving average price of $61.33. The firm has a market capitalization of $49.42 billion, a price-to-earnings ratio of 455.21 and a beta of 0.67.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data 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. Occidental Petroleum had a return on equity of 9.62% and a net margin of 10.38%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the business posted ($0.18) EPS. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities research analysts expect that Occidental Petroleum Co. will post $0.66 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.76%. Occidental Petroleum’s dividend payout ratio is presently 2,369.23%.

In other Occidental Petroleum news, Director William R. Klesse acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the acquisition, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Grove Bank & Trust increased its position in shares of Occidental Petroleum by 54.8% in the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after acquiring an additional 622 shares during the period. Oakworth Capital Inc. increased its position in shares of Occidental Petroleum by 14.7% in the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after acquiring an additional 250 shares during the period. Parallel Advisors LLC increased its position in shares of Occidental Petroleum by 15.6% in the 1st quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after acquiring an additional 264 shares during the period. FNY Partners Fund LP acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at $126,000. Finally, Farmers National Bank acquired a new position in shares of O

OXY has been the subject of a number of research analyst reports. BidaskClub cut Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC set a $58.00 target price on Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, August 29th. BMO Capital Markets set a $60.00 target price on Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, October 10th. Barclays PLC raised their price objective on Occidental Petroleum from $38.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, October 11th. Finally, Wolfe Research raised Occidental Petroleum from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Occidental Petroleum has an average rating of “Hold” and a consensus price target of $65.71.

The company has a 50 day moving average price of $62.49 and a 200-day moving average price of $61.33. The firm has a market capitalization of $49.42 billion, a price-to-earnings ratio of 455.21 and a beta of 0.67.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data 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. Occidental Petroleum had a return on equity of 9.62% and a net margin of 10.38%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the business posted ($0.18) EPS. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities research analysts expect that Occidental Petroleum Co. will post $0.66 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be issued a dividend of $0.77 per share. The ex-dividend date is Friday, December 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.76%. Occidental Petroleum’s dividend payout ratio is presently 2,369.23%.

In other Occidental Petroleum news, Director William R. Klesse acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was purchased at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the acquisition, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Grove Bank & Trust increased its position in shares of Occidental Petroleum by 54.8% in the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after acquiring an additional 622 shares during the period. Oakworth Capital Inc. increased its position in shares of Occidental Petroleum by 14.7% in the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after acquiring an additional 250 shares during the period. Parallel Advisors LLC increased its position in shares of Occidental Petroleum by 15.6% in the 1st quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after acquiring an additional 264 shares during the period. FNY Partners Fund LP acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at $126,000. Finally, Farmers National Bank acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at $147,000. Hedge funds and other institutional investors own 80.53% of the company’s stock.

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Occidental Petroleum 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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