Occidental Petroleum Corp. (OXY) Sets New 12-Month High at $78.48
Shares of Occidental Petroleum Corp. (NYSE:OXY) hit a new 52-week high during trading on Tuesday . The stock traded as high as $78.48 and last traded at $77.75, with a volume of 966,027 shares trading hands. The stock had previously closed at $77.95.
Several analysts recently commented on the stock. Barclays PLC increased their price objective on shares of Occidental Petroleum Corp. from $60.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday, July 14th. Jefferies Group restated a “hold” rating on shares of Occidental Petroleum Corp. in a research note on Sunday, July 10th. JPMorgan Chase & Co. cut shares of 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 note on Monday, May 9th. They noted that the move was a valuation call. TheStreet upgraded shares of Occidental Petroleum Corp. from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. Finally, Raymond James Financial Inc. cut shares of 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 note on Thursday, July 7th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. Occidental Petroleum Corp. has an average rating of “Hold” and an average target price of $76.23.
The stock’s 50 day moving average price is $75.60 and its 200 day moving average price is $73.71. The company’s market capitalization is $59.38 billion.
Occidental Petroleum Corp. (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.18). During the same quarter in the previous year, the firm posted $0.21 EPS. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.73 billion. Occidental Petroleum Corp.’s revenue was down 27.0% on a year-over-year basis. On average, equities research analysts anticipate that Occidental Petroleum Corp. will post ($0.64) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 9th will be issued a dividend of $0.76 per share. This is a boost from Occidental Petroleum Corp.’s previous quarterly dividend of $0.75. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Wednesday, September 7th.
In related news, Director Stephen I. Chazen sold 9,000 shares of Occidental Petroleum Corp. stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $77.06, for a total transaction of $693,540.00. Following the completion of the sale, the director now owns 1,711,119 shares of the company’s stock, valued at $131,858,830.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen I. Chazen sold 5,000 shares of Occidental Petroleum Corp. stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $73.95, for a total value of $369,750.00. Following the sale, the director now directly owns 1,745,119 shares of the company’s stock, valued at approximately $129,051,550.05. The disclosure for this sale can be found here.
Several large investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in Occidental Petroleum Corp. by 7.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 2,309,221 shares of the company’s stock worth $156,127,000 after buying an additional 157,515 shares during the period. Venturi Wealth Management LLC purchased a new stake in Occidental Petroleum Corp. during the fourth quarter worth approximately $4,598,000. Finally, BNP Paribas Arbitrage SA increased its stake in Occidental Petroleum Corp. by 1.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 428,714 shares of the company’s stock worth $28,985,000 after buying an additional 7,166 shares during the period.
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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