Investors Buy Occidental Petroleum (OXY) on Weakness

Traders bought shares of Occidental Petroleum Corporation (NYSE:OXY) on weakness during trading on Thursday. $62.29 million flowed into the stock on the tick-up and $38.60 million flowed out of the stock on the tick-down, for a money net flow of $23.69 million into the stock. Of all companies tracked, Occidental Petroleum had the 32nd highest net in-flow for the day. Occidental Petroleum traded down ($0.04) for the day and closed at $74.96

Several brokerages have recently commented on OXY. Bank of America lowered Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $80.00 price objective for the company. in a report on Thursday. They noted that the move was a valuation call. Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $85.00 price objective for the company in a report on Thursday. Credit Suisse Group began coverage on Occidental Petroleum in a report on Monday, December 11th. They set a “neutral” rating and a $62.00 price objective for the company. ValuEngine raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Finally, Mizuho set a $71.00 price objective on Occidental Petroleum and gave the stock a “hold” rating in a report on Friday, November 24th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Occidental Petroleum presently has an average rating of “Hold” and a consensus price target of $67.00.

The company has a market cap of $57,050.00, a P/E ratio of 105.00, a PEG ratio of 7.22 and a beta of 0.65. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Occidental Petroleum (NYSE:OXY) last issued 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 business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. Occidental Petroleum’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. analysts predict that Occidental Petroleum Corporation will post 0.78 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Glassman Wealth Services lifted its position in Occidental Petroleum by 0.3% in the second quarter. Glassman Wealth Services now owns 2,474 shares of the oil and gas producer’s stock valued at $148,000 after purchasing an additional 8 shares during the last quarter. Good Life Advisors LLC lifted its position in Occidental Petroleum by 0.8% in the second quarter. Good Life Advisors LLC now owns 7,401 shares of the oil and gas producer’s stock valued at $436,000 after purchasing an additional 58 shares during the last quarter. AMG Funds LLC lifted its position in Occidental Petroleum by 0.5% in the second quarter. AMG Funds LLC now owns 25,547 shares of the oil and gas producer’s stock valued at $1,529,000 after purchasing an additional 136 shares during the last quarter. Bank of Nova Scotia Trust Co. lifted its position in Occidental Petroleum by 6.0% in the second quarter. Bank of Nova Scotia Trust Co. now owns 4,734 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 267 shares during the last quarter. Finally, Stellar Capital Management LLC lifted its position in Occidental Petroleum by 1.0% in the second quarter. Stellar Capital Management LLC now owns 26,568 shares of the oil and gas producer’s stock valued at $1,591,000 after purchasing an additional 270 shares during the last quarter. 80.16% of the stock is owned by institutional investors and hedge funds.

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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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