Key Points
- Director William Klesse bought 5,000 OXY shares at an average of $38.98 (≈$194,900), boosting his direct stake to 218,913 shares — a 2.34% increase in his position.
- Occidental declared a quarterly dividend of $0.24 (ex-dividend Dec 10, payable Jan 15), equal to $0.96 annually and a ~2.4% yield with a payout ratio of ~70.6%.
- Shares traded around $40.01 (down ~1.5%); last quarter EPS was $0.64 (beat estimates) while revenue fell 6.1% YoY, and analysts hold a consensus rating of "Hold" with a $49.95 target.
Occidental Petroleum Corporation (NYSE:OXY - Get Free Report) Director William Klesse acquired 5,000 shares of Occidental Petroleum stock in a transaction on Tuesday, December 16th. The shares were purchased at an average cost of $38.98 per share, with a total value of $194,900.00. Following the completion of the purchase, the director directly owned 218,913 shares of the company's stock, valued at approximately $8,533,228.74. This represents a 2.34% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Occidental Petroleum Trading Down 1.5%
Shares of Occidental Petroleum stock traded down $0.62 during trading on Thursday, hitting $40.01. The stock had a trading volume of 1,642,070 shares, compared to its average volume of 11,186,275. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20. The stock has a 50 day simple moving average of $41.55 and a 200 day simple moving average of $43.72. The company has a quick ratio of 0.71, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $39.42 billion, a PE ratio of 29.41 and a beta of 0.39.
Occidental Petroleum (NYSE:OXY - Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The oil and gas producer reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.16. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter last year, the business posted $1.00 EPS. The company's revenue was down 6.1% on a year-over-year basis. On average, research analysts expect that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.
Occidental Petroleum Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, December 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. Occidental Petroleum's payout ratio is currently 70.59%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. Morgan Stanley dropped their price target on Occidental Petroleum from $52.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 20th. Bank of America dropped their target price on Occidental Petroleum from $45.00 to $44.00 and set a "neutral" rating on the stock in a report on Thursday, December 11th. Scotiabank increased their price target on shares of Occidental Petroleum from $45.00 to $47.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 9th. Mizuho boosted their price objective on shares of Occidental Petroleum from $60.00 to $64.00 and gave the company an "outperform" rating in a research report on Tuesday, November 11th. Finally, Wells Fargo & Company cut their target price on shares of Occidental Petroleum from $42.00 to $40.00 and set an "underweight" rating for the company in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Occidental Petroleum presently has a consensus rating of "Hold" and a consensus target price of $49.95.
View Our Latest Analysis on OXY
Hedge Funds Weigh In On Occidental Petroleum
A number of hedge funds have recently added to or reduced their stakes in OXY. Vanguard Personalized Indexing Management LLC raised its stake in Occidental Petroleum by 77.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 139,086 shares of the oil and gas producer's stock valued at $5,843,000 after purchasing an additional 60,793 shares during the last quarter. Tevis Investment Management bought a new position in shares of Occidental Petroleum during the 2nd quarter worth about $356,000. Strs Ohio acquired a new position in shares of Occidental Petroleum during the first quarter valued at about $7,516,000. Nordea Investment Management AB grew its position in Occidental Petroleum by 4.9% during the second quarter. Nordea Investment Management AB now owns 459,826 shares of the oil and gas producer's stock worth $19,446,000 after buying an additional 21,393 shares in the last quarter. Finally, Aberdeen Group plc increased its stake in Occidental Petroleum by 4.4% during the second quarter. Aberdeen Group plc now owns 731,158 shares of the oil and gas producer's stock valued at $30,716,000 after acquiring an additional 30,746 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.
About Occidental Petroleum
(
Get Free Report)
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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