Occidental Petroleum Corp. (OXY) Hits New 52-Week High at $78.48
Occidental Petroleum Corp. (NYSE:OXY) shares reached a new 52-week high during trading on Tuesday . The company 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.
A number of research analysts recently commented on OXY shares. JPMorgan Chase & Co. cut Occidental Petroleum Corp. from an “overweight” rating to a “neutral” rating and increased 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 raised Occidental Petroleum Corp. from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. Raymond James Financial Inc. cut 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. Barclays PLC increased their target price on Occidental Petroleum Corp. from $60.00 to $61.00 and gave the company an “underweight” rating in a research note on Thursday, July 14th. Finally, Credit Agricole SA reissued a “buy” rating on shares of Occidental Petroleum Corp. in a research note on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $76.23.
The firm’s 50-day moving average price is $75.63 and its 200 day moving average price is $73.81. The firm’s market capitalization is $58.71 billion.
Occidental Petroleum Corp. (NYSE:OXY) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). The business earned $2.53 billion during the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter last year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was down 27.0% on a year-over-year basis. On average, analysts expect that Occidental Petroleum Corp. will post ($0.64) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 9th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.96%. This is a positive change from Occidental Petroleum Corp.’s previous quarterly dividend of $0.75.
In related news, Director Stephen I. Chazen sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $77.06, for a total transaction of $693,540.00. Following the transaction, the director now directly owns 1,711,119 shares in the company, valued at approximately $131,858,830.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen I. Chazen sold 5,000 shares of the company’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $74.57, for a total transaction of $372,850.00. Following the transaction, the director now owns 1,775,119 shares in the company, valued at $132,370,623.83. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Occidental Petroleum Corp. stock. Schwab Charles Investment Management Inc. boosted its stake in shares of Occidental Petroleum Corp. (NYSE:OXY) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,309,221 shares of the company’s stock after buying an additional 157,515 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.30% of Occidental Petroleum Corp. worth $156,127,000 as of its most recent filing with the SEC.
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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