Investors sold shares of Occidental Petroleum Corporation (NYSE:OXY) on strength during trading on Tuesday. $38.21 million flowed into the stock on the tick-up and $96.19 million flowed out of the stock on the tick-down, for a money net flow of $57.98 million out of the stock. Of all companies tracked, Occidental Petroleum Corporation had the 3rd highest net out-flow for the day. Occidental Petroleum Corporation traded up $0.97 for the day and closed at $60.72

Several research firms have commented on OXY. Zacks Investment Research downgraded shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 31st. Jefferies Group LLC set a $58.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Piper Jaffray Companies set a $55.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Friday, August 25th. BidaskClub downgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Finally, Cowen and Company restated a “buy” rating and set a $75.00 price objective on shares of Occidental Petroleum Corporation in a research report on Tuesday, August 22nd. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $65.14.

The company’s 50 day moving average price is $60.50 and its 200 day moving average price is $61.52. The firm has a market cap of $46.42 billion, a PE ratio of 427.61 and a beta of 0.66.

Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the firm posted ($0.18) EPS. The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. Equities analysts anticipate that Occidental Petroleum Corporation will post $0.67 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Friday, September 8th. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,338.46%.

In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were bought at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the purchase, the director now owns 70,692 shares in the company, valued at approximately $4,353,213.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Cedric W. Burgher purchased 1,700 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The stock was acquired at an average price of $59.85 per share, for a total transaction of $101,745.00. Following the purchase, the chief financial officer now owns 44,124 shares in the company, valued at approximately $2,640,821.40. The disclosure for this purchase can be found here. Company insiders own 0.32% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in Occidental Petroleum Corporation by 3,198.5% during the 1st quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after acquiring an additional 57,202,942 shares during the last quarter. Vanguard Group Inc. grew its position in Occidental Petroleum Corporation by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock worth $3,304,357,000 after acquiring an additional 1,119,588 shares during the last quarter. State Street Corp grew its position in Occidental Petroleum Corporation by 1.7% during the 1st quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock worth $2,511,168,000 after acquiring an additional 681,032 shares during the last quarter. Wellington Management Group LLP grew its position in Occidental Petroleum Corporation by 0.8% during the 1st quarter. Wellington Management Group LLP now owns 13,952,937 shares of the oil and gas producer’s stock worth $884,058,000 after acquiring an additional 105,546 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Occidental Petroleum Corporation by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock worth $830,010,000 after acquiring an additional 247,780 shares during the last quarter. Institutional investors and hedge funds own 80.85% of the company’s stock.

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About Occidental Petroleum Corporation

Occidental Petroleum Corporation (Occidental) 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.