Occidental Petroleum Corp. (NYSE:OXY) gapped up before the market opened on Monday . The stock had previously closed at $74.34, but opened at $74.46. Occidental Petroleum Corp. shares last traded at $74.95, with a volume of 1,058,027 shares.

OXY has been the topic of a number of research analyst reports. Jefferies Group restated a “hold” rating on shares of Occidental Petroleum Corp. in a research note on Sunday, May 8th. JPMorgan Chase & Co. lowered Occidental Petroleum Corp. from an “overweight” rating to a “neutral” rating and upped their target price for the company from $74.00 to $80.00 in a research report on Monday, May 9th. They noted that the move was a valuation call. TheStreet upgraded Occidental Petroleum Corp. from a “sell” rating to a “hold” rating in a research report on Friday, May 6th. Morgan Stanley lowered Occidental Petroleum Corp. from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $58.24 to $70.00 in a research report on Monday, June 13th. 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 target price on the stock. in a research report on Thursday, July 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $77.27.

The stock’s 50 day moving average is $75.07 and its 200 day moving average is $72.94. The company’s market capitalization is $57.33 billion.

Occidental Petroleum Corp. (NYSE:OXY) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). During the same quarter last year, the business posted $0.21 earnings per share. The company earned $2.53 billion during the quarter, compared to analysts’ expectations of $2.73 billion. The company’s revenue for the quarter was down 27.0% compared to the same quarter last year. On average, equities analysts anticipate that Occidental Petroleum Corp. will post ($0.63) earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 9th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $3.04 annualized dividend and a dividend yield of 4.05%. This is a positive change from Occidental Petroleum Corp.’s previous quarterly dividend of $0.75.

In other Occidental Petroleum Corp. news, Director Stephen I. Chazen sold 5,000 shares of Occidental Petroleum Corp. stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $76.24, for a total value of $381,200.00. Following the transaction, the director now directly owns 1,790,119 shares in the company, valued at approximately $136,478,672.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen I. Chazen sold 9,000 shares of Occidental Petroleum Corp. stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $73.76, for a total value of $663,840.00. Following the completion of the transaction, the director now owns 1,738,119 shares in the company, valued at $128,203,657.44. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently made changes to their positions in the company. King Luther Capital Management Corp increased its position in shares of Occidental Petroleum Corp. by 4.7% in the fourth quarter. King Luther Capital Management Corp now owns 209,845 shares of the company’s stock valued at $14,188,000 after buying an additional 9,347 shares during the period. Venturi Wealth Management LLC acquired a new stake in Occidental Petroleum Corp. during the fourth quarter valued at approximately $4,598,000. BlackRock Investment Management LLC boosted its stake in Occidental Petroleum Corp. by 10.3% in the fourth quarter. BlackRock Investment Management LLC now owns 3,859,116 shares of the company’s stock valued at $260,915,000 after buying an additional 360,990 shares in the last quarter. BlackRock Advisors LLC boosted its stake in Occidental Petroleum Corp. by 20.2% in the fourth quarter. BlackRock Advisors LLC now owns 7,346,821 shares of the company’s stock valued at $496,718,000 after buying an additional 1,236,191 shares in the last quarter. Finally, KBC Group NV boosted its stake in Occidental Petroleum Corp. by 20.3% in the fourth quarter. KBC Group NV now owns 187,806 shares of the company’s stock valued at $12,698,000 after buying an additional 31,665 shares in 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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