William R. Klesse Acquires 10,000 Shares of Occidental Petroleum Corporation (OXY) Stock

Occidental Petroleum Corporation (NYSE:OXY) Director William R. Klesse purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was bought at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of 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 can be accessed through this link.

Shares of Occidental Petroleum Corporation (NYSE OXY) opened at 61.13 on Friday. The firm’s 50-day moving average is $60.52 and its 200-day moving average is $62.59. The company has a market capitalization of $46.74 billion, a PE ratio of 430.49 and a beta of 0.65. Occidental Petroleum Corporation has a 12-month low of $57.20 and a 12-month high of $78.48.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 40.9% on a year-over-year basis. On average, equities research analysts anticipate that Occidental Petroleum Corporation will post $0.64 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, September 11th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Friday, September 8th. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,338.46%.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Occidental Petroleum Corporation during the first quarter worth approximately $102,000. Grove Bank & Trust increased its position in shares of Occidental Petroleum Corporation by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after buying an additional 622 shares during the period. Mosaic Family Wealth LLC increased its position in shares of Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 72 shares during the period. Oakworth Capital Inc. increased its position in shares of Occidental Petroleum Corporation by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after buying an additional 250 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 264 shares during the period. 81.55% of the stock is owned by institutional investors.

A number of equities research analysts recently issued reports on OXY shares. Bank of America Corporation reiterated a “buy” rating and issued a $80.00 price objective (down from $83.00) on shares of Occidental Petroleum Corporation in a report on Thursday, May 11th. Mitsubishi UFJ Financial Group started coverage on shares of Occidental Petroleum Corporation in a report on Monday, May 29th. They issued a “hold” rating and a $69.00 price objective for the company. Cowen and Company reiterated a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum Corporation in a report on Tuesday, May 23rd. Wolfe Research upgraded shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Finally, Zacks Investment Research cut shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $66.38.

Occidental Petroleum Corporation 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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