Occidental Petroleum Corp. (OXY) Director Stephen I. Chazen Sells 9,000 Shares of Stock
Occidental Petroleum Corp. (NYSE:OXY) Director Stephen I. Chazen sold 9,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $73.05, for a total value of $657,450.00. Following the completion of the transaction, the director now directly owns 1,664,119 shares of the company’s stock, valued at approximately $121,563,892.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Occidental Petroleum Corp. (NYSE:OXY) opened at 71.03 on Monday. The company has a 50-day moving average price of $75.69 and a 200-day moving average price of $74.23. The firm’s market capitalization is $54.26 billion. 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 for the quarter, hitting the Zacks’ consensus estimate of ($0.18). Occidental Petroleum Corp. had a negative net margin of 71.82% and a negative return on equity of 2.64%. The business earned $2.53 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period last year, the company posted $0.21 EPS. The company’s revenue was down 27.0% on a year-over-year basis. On average, analysts predict that Occidental Petroleum Corp. will post ($0.69) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 9th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.28%. This is a boost from Occidental Petroleum Corp.’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, September 7th. Occidental Petroleum Corp.’s dividend payout ratio (DPR) is -29.57%.
OXY has been the subject of several analyst reports. Credit Agricole SA reissued a “buy” rating on shares of Occidental Petroleum Corp. in a report on Tuesday, August 16th. Morgan Stanley lowered Occidental Petroleum Corp. from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $58.24 to $70.00 in a research note on Monday, June 13th. They noted that the move was a valuation call. Credit Suisse Group AG restated a “hold” rating and issued a $72.00 price target on shares of Occidental Petroleum Corp. in a research note on Monday, September 12th. Deutsche Bank AG lowered Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 price target for the company. in a research note on Friday, August 5th. Finally, Jefferies Group restated a “hold” rating on shares of Occidental Petroleum Corp. in a research note on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $75.59.
Several hedge funds and other institutional investors have recently modified their holdings of OXY. Kistler Tiffany Companies LLC boosted its stake 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 valued at $102,000 after buying an additional 19 shares during the last quarter. First New York Securities LLC NY purchased a new stake in Occidental Petroleum Corp. during the second quarter valued at approximately $110,000. LSV Asset Management purchased a new stake in Occidental Petroleum Corp. during the second quarter valued at approximately $111,000. Oakworth Capital Inc. boosted its stake in Occidental Petroleum Corp. by 7.0% in the second quarter. Oakworth Capital Inc. now owns 1,521 shares of the company’s stock valued at $115,000 after buying an additional 100 shares during the last quarter. Finally, SevenBridge Financial Group LLC purchased a new stake in Occidental Petroleum Corp. during the second quarter valued at approximately $121,000. 80.87% of the stock is owned by institutional investors and hedge funds.
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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