Traders Buy Occidental Petroleum Corp. (OXY) on Weakness
Traders purchased shares of Occidental Petroleum Corp. (NYSE:OXY) on weakness during trading hours on Monday. $70.88 million flowed into the stock on the tick-up and $40.56 million flowed out of the stock on the tick-down, for a money net flow of $30.32 million into the stock. Of all companies tracked, Occidental Petroleum Corp. had the 19th highest net in-flow for the day. Occidental Petroleum Corp. traded down ($0.87) for the day and closed at $74.51
Several analysts recently commented on the company. Jefferies Group reaffirmed a “hold” rating on shares of Occidental Petroleum Corp. in a report on Sunday, May 8th. TheStreet raised Occidental Petroleum Corp. from a “sell” rating to a “hold” rating in a report on Friday, May 6th. Barclays PLC raised their price objective on Occidental Petroleum Corp. from $60.00 to $61.00 and gave the company an “underweight” rating in a report on Thursday, July 14th. JPMorgan Chase & Co. lowered Occidental Petroleum Corp. from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $74.00 to $80.00 in a report on Monday, May 9th. They noted that the move was a valuation call. Finally, Raymond James Financial Inc. lowered Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 price objective on the stock. in a report on Thursday, July 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $77.60.
The stock’s market capitalization is $56.91 billion. The firm’s 50 day moving average price is $75.80 and its 200 day moving average price is $71.74.
Occidental Petroleum Corp. (NYSE:OXY) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by $0.16. During the same quarter last year, the firm posted $0.04 EPS. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.49 billion. The business’s revenue for the quarter was down 26.3% on a year-over-year basis. Equities analysts predict that Occidental Petroleum Corp. will post ($0.59) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 9th will be issued a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $3.04 annualized dividend and a dividend yield of 4.08%. This is a boost from Occidental Petroleum Corp.’s previous quarterly dividend of $0.75.
In other news, Director Stephen I. Chazen sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $75.49, for a total transaction of $377,450.00. Following the transaction, the director now owns 1,840,119 shares in the company, valued at approximately $138,910,583.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Several hedge funds and institutional investors recently bought and sold shares of the company. Twin Capital Management Inc. increased its position in Occidental Petroleum Corp. by 0.6% in the fourth quarter. Twin Capital Management Inc. now owns 22,225 shares of the company’s stock valued at $1,503,000 after buying an additional 130 shares during the last quarter. Andra AP fonden increased its position in Occidental Petroleum Corp. by 0.4% in the fourth quarter. Andra AP fonden now owns 74,400 shares of the company’s stock valued at $5,030,000 after buying an additional 300 shares during the last quarter. Tredje AP fonden increased its position in Occidental Petroleum Corp. by 1.1% in the fourth quarter. Tredje AP fonden now owns 51,204 shares of the company’s stock valued at $3,500,000 after buying an additional 545 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in Occidental Petroleum Corp. by 1.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 117,851 shares of the company’s stock valued at $7,968,000 after buying an additional 1,350 shares during the last quarter. Finally, Advantus Capital Management Inc increased its position in Occidental Petroleum Corp. by 2.6% in the fourth quarter. Advantus Capital Management Inc now owns 73,507 shares of the company’s stock valued at $4,970,000 after buying an additional 1,884 shares during the last quarter.
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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