Traders Buy Occidental Petroleum (OXY) on Weakness

Investors bought shares of Occidental Petroleum Corporation (NYSE:OXY) on weakness during trading on Friday. $91.55 million flowed into the stock on the tick-up and $55.28 million flowed out of the stock on the tick-down, for a money net flow of $36.27 million into the stock. Of all equities tracked, Occidental Petroleum had the 26th highest net in-flow for the day. Occidental Petroleum traded down ($0.26) for the day and closed at $70.24

Several research firms have issued reports on OXY. Cowen restated a “buy” rating and set a $75.00 target price on shares of Occidental Petroleum in a research note on Tuesday, August 22nd. Mizuho reaffirmed a “hold” rating and set a $64.00 price target on shares of Occidental Petroleum in a research report on Friday, November 3rd. Bank of America upped their price target on shares of Occidental Petroleum from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Finally, Zacks Investment Research lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $67.27.

The company has a market cap of $53,750.81, a price-to-earnings ratio of 200.69, a PEG ratio of 14.25 and a beta of 0.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) EPS. equities research analysts predict that Occidental Petroleum Corporation will post 0.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.38%. The ex-dividend date is Friday, December 8th. Occidental Petroleum’s dividend payout ratio is 440.00%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Occidental Petroleum by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock valued at $3,304,357,000 after acquiring an additional 1,119,588 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Occidental Petroleum by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock valued at $830,010,000 after acquiring an additional 247,780 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Occidental Petroleum by 1.4% during the 2nd quarter. Franklin Resources Inc. now owns 13,570,361 shares of the oil and gas producer’s stock valued at $812,457,000 after acquiring an additional 186,703 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Occidental Petroleum by 3.6% during the 2nd quarter. Macquarie Group Ltd. now owns 11,948,897 shares of the oil and gas producer’s stock valued at $715,381,000 after acquiring an additional 418,349 shares during the last quarter. Finally, Capital International Investors boosted its position in shares of Occidental Petroleum by 3.6% during the 3rd quarter. Capital International Investors now owns 8,273,652 shares of the oil and gas producer’s stock valued at $531,251,000 after acquiring an additional 289,718 shares during the last quarter. 80.33% of the stock is owned by institutional investors.

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About Occidental Petroleum

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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