Insider Selling: Occidental Petroleum Corp. (OXY) Director Sells $664,200.00 in Stock
Occidental Petroleum Corp. (NYSE:OXY) Director Stephen I. Chazen sold 9,000 shares of the firm’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $73.80, for a total transaction of $664,200.00. Following the transaction, the director now directly owns 1,628,119 shares of the company’s stock, valued at approximately $120,155,182.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Occidental Petroleum Corp. (NYSE:OXY) opened at 72.57 on Wednesday. The stock’s market capitalization is $55.44 billion. The stock’s 50 day moving average price is $73.46 and its 200-day moving average price is $74.71. Occidental Petroleum Corp. has a 12-month low of $58.24 and a 12-month high of $78.48.
Occidental Petroleum Corp. (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). The firm earned $2.53 billion during the quarter, compared to analysts’ expectations of $2.73 billion. Occidental Petroleum Corp. had a negative return on equity of 2.64% and a negative net margin of 71.82%. Occidental Petroleum Corp.’s revenue was down 27.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. Analysts expect that Occidental Petroleum Corp. will post ($0.71) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 9th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.19%. Occidental Petroleum Corp.’s dividend payout ratio (DPR) is -29.57%.
Several institutional investors have recently added to or reduced their stakes in the company. Kistler Tiffany Companies LLC boosted its position in Occidental Petroleum Corp. by 1.4% in the second quarter. Kistler Tiffany Companies LLC now owns 1,346 shares of the company’s stock worth $102,000 after buying an additional 19 shares during the period. First New York Securities LLC NY bought a new position in Occidental Petroleum Corp. during the second quarter worth $110,000. LSV Asset Management bought a new position in Occidental Petroleum Corp. during the second quarter worth $111,000. Oakworth Capital Inc. boosted its position in Occidental Petroleum Corp. by 7.0% in the second quarter. Oakworth Capital Inc. now owns 1,521 shares of the company’s stock worth $115,000 after buying an additional 100 shares during the period. Finally, SevenBridge Financial Group LLC bought a new position in Occidental Petroleum Corp. during the second quarter worth $121,000. 80.76% of the stock is owned by institutional investors.
Several research firms have recently weighed in on OXY. Jefferies Group reiterated a “hold” rating on shares of Occidental Petroleum Corp. in a research report on Sunday, July 10th. Deutsche Bank AG cut shares of Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 price objective for the company. in a research report on Friday, August 5th. Credit Suisse Group AG reiterated a “hold” rating and set a $72.00 price objective on shares of Occidental Petroleum Corp. in a research report on Monday, September 12th. Raymond James Financial Inc. cut shares of Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 price objective for the company. in a research report on Thursday, July 7th. Finally, Mizuho began coverage on shares of Occidental Petroleum Corp. in a research report on Wednesday, October 5th. They set a “buy” rating and a $83.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Occidental Petroleum Corp. presently has an average rating of “Hold” and a consensus price target of $76.06.
Occidental Petroleum Corp. Company Profile
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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