Traders Buy Large Volume of Occidental Petroleum Call Options (OXY)
Occidental Petroleum Corporation (NYSE:OXY) saw some unusual options trading on Thursday. Stock traders purchased 65,792 call options on the stock. This is an increase of 2,491% compared to the typical volume of 2,539 call options.
Several equities analysts have recently issued reports on the company. Cowen reaffirmed a “buy” rating and issued a $75.00 target price on shares of Occidental Petroleum in a report on Tuesday, August 22nd. Mizuho reaffirmed a “hold” rating and issued a $64.00 target price on shares of Occidental Petroleum in a report on Friday, November 3rd. Bank of America upped their target price on Occidental Petroleum from $70.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 13th. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Finally, Zacks Investment Research lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. Occidental Petroleum has an average rating of “Hold” and a consensus target price of $67.27.
Occidental Petroleum (NYSE:OXY) opened at $69.50 on Tuesday. Occidental Petroleum has a twelve month low of $57.20 and a twelve month high of $73.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. The company has a market capitalization of $52,700.00, a price-to-earnings ratio of 196.77, a PEG ratio of 13.97 and a beta of 0.65.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.07. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned ($0.15) earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. research analysts anticipate that Occidental Petroleum will post 0.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be given a $0.77 dividend. The ex-dividend date is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.43%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 433.80%.
Several hedge funds have recently modified their holdings of OXY. Barometer Capital Management Inc. purchased a new stake in Occidental Petroleum during the third quarter valued at about $12,213,000. BP PLC purchased a new stake in Occidental Petroleum during the second quarter valued at about $5,210,000. Federated Investors Inc. PA raised its position in Occidental Petroleum by 18.0% during the second quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after purchasing an additional 1,152,152 shares in the last quarter. BB&T Securities LLC raised its position in Occidental Petroleum by 71.1% during the second quarter. BB&T Securities LLC now owns 452,611 shares of the oil and gas producer’s stock valued at $27,097,000 after purchasing an additional 188,009 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Occidental Petroleum by 72.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 847,287 shares of the oil and gas producer’s stock valued at $50,831,000 after purchasing an additional 356,351 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.
Occidental Petroleum Company Profile
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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