Key Points
- Occidental Petroleum CEO Richard Jackson bought 4,770 shares at an average price of $52.38, totaling about $249,853 and lifting his stake by 1.09% to 444,098 shares.
- The company recently reported strong quarterly earnings of $1.06 per share, beating analyst estimates, though revenue of $5.11 billion came in below expectations and was down 8.3% year over year.
- Occidental declared a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a 2.0% yield, while analysts currently rate the stock a consensus Hold with an average price target of $63.74.
Occidental Petroleum Corporation (NYSE:OXY - Get Free Report) CEO Richard Jackson acquired 4,770 shares of the company's stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average cost of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer owned 444,098 shares of the company's stock, valued at $23,261,853.24. The trade was a 1.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Occidental Petroleum Stock Performance
Shares of NYSE OXY opened at $51.08 on Thursday. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The firm has a market capitalization of $50.81 billion, a price-to-earnings ratio of 12.87 and a beta of 0.14. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $56.56 and a 200 day moving average of $51.73.
Occidental Petroleum (NYSE:OXY - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The company's quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. On average, research analysts anticipate that Occidental Petroleum Corporation will post 5.79 earnings per share for the current year.
Occidental Petroleum Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, June 10th. Occidental Petroleum's dividend payout ratio (DPR) is currently 26.20%.
Hedge Funds Weigh In On Occidental Petroleum
Several large investors have recently made changes to their positions in OXY. Axiom Investment Management LLC bought a new position in shares of Occidental Petroleum in the first quarter worth about $25,000. GKV Capital Management Co. Inc. bought a new stake in Occidental Petroleum during the 1st quarter valued at approximately $26,000. Portus Wealth Advisors LLC purchased a new position in Occidental Petroleum in the 1st quarter worth approximately $29,000. Ballast Advisors LLC bought a new position in Occidental Petroleum in the 1st quarter worth approximately $39,000. Finally, Whipplewood Advisors LLC bought a new position in Occidental Petroleum in the 1st quarter worth approximately $42,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have issued reports on OXY. The Goldman Sachs Group raised Occidental Petroleum from a "sell" rating to a "neutral" rating and set a $64.00 price target for the company in a report on Thursday, May 21st. Scotiabank raised their price objective on Occidental Petroleum from $46.00 to $57.00 and gave the stock a "sector perform" rating in a research note on Wednesday, April 22nd. UBS Group cut their price objective on Occidental Petroleum from $67.00 to $65.00 and set a "neutral" rating for the company in a research note on Thursday, May 7th. Zacks Research lowered shares of Occidental Petroleum from a "strong-buy" rating to a "hold" rating in a report on Monday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Occidental Petroleum from $64.00 to $63.00 in a research note on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $63.74.
View Our Latest Report on Occidental Petroleum
Occidental Petroleum Company Profile
(
Get Free Report)
Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.
Occidental's operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.
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