Investors sold shares of Occidental Petroleum Corporation (NYSE:OXY) on strength during trading hours 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 0th highest net out-flow for the day. Occidental Petroleum Corporation traded up $0.97 for the day and closed at $60.72

Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Scotiabank reissued a “hold” rating and issued a $68.00 price objective on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Jefferies Group LLC reissued a “hold” rating and issued a $64.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, June 23rd. BidaskClub raised shares of Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $65.00 price objective on shares of Occidental Petroleum Corporation in a research note on Thursday, June 22nd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $65.14.

The company has a 50 day moving average of $60.54 and a 200 day moving average of $61.52. The company has a market cap of $47.18 billion, a P/E ratio of 434.58 and a beta of 0.66.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be issued a $0.77 dividend. The ex-dividend date is Friday, September 8th. This represents a $3.08 annualized dividend and a yield of 5.00%. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,338.46%.

In other Occidental Petroleum Corporation news, Director William R. Klesse purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were acquired at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the purchase, the director now directly owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.

Several institutional investors have recently modified their holdings of OXY. Valicenti Advisory Services Inc. boosted its stake in shares of Occidental Petroleum Corporation by 42.8% during the 1st quarter. Valicenti Advisory Services Inc. now owns 41,665 shares of the oil and gas producer’s stock worth $2,640,000 after acquiring an additional 12,480 shares during the last quarter. Schmidt P J Investment Management Inc. boosted its stake in shares of Occidental Petroleum Corporation by 9.0% during the 1st quarter. Schmidt P J Investment Management Inc. now owns 5,770 shares of the oil and gas producer’s stock worth $366,000 after acquiring an additional 475 shares during the last quarter. Meyer Handelman Co. boosted its stake in shares of Occidental Petroleum Corporation by 15.1% during the 1st quarter. Meyer Handelman Co. now owns 161,300 shares of the oil and gas producer’s stock worth $10,220,000 after acquiring an additional 21,200 shares during the last quarter. First Merchants Corp boosted its stake in shares of Occidental Petroleum Corporation by 3.4% during the 1st quarter. First Merchants Corp now owns 16,709 shares of the oil and gas producer’s stock worth $1,058,000 after acquiring an additional 550 shares during the last quarter. Finally, BTC Capital Management Inc. boosted its stake in shares of Occidental Petroleum Corporation by 14.1% during the 1st quarter. BTC Capital Management Inc. now owns 29,855 shares of the oil and gas producer’s stock worth $1,894,000 after acquiring an additional 3,698 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.

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