Occidental Petroleum Co. (NYSE:OXY) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $37.57 and last traded at $37.67, with a volume of 1625611 shares changing hands. The stock had previously closed at $38.68.
Several equities research analysts recently commented on OXY shares. Barclays started coverage on shares of Occidental Petroleum in a research report on Monday, August 19th. They set an “equal weight” rating and a $61.00 target price on the stock. Morgan Stanley dropped their price target on shares of Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating for the company in a research note on Friday, October 4th. Raymond James cut their price target on shares of Occidental Petroleum from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Co cut their price target on shares of Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, August 16th. Finally, Zacks Investment Research raised shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating and set a $34.00 price objective on the stock in a research note on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $58.03.
The company’s 50-day moving average price is $40.29 and its two-hundred day moving average price is $46.03. The company has a market capitalization of $34.46 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 4.28 and a beta of 0.85. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.33 and a quick ratio of 1.23.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.30). The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.59 billion. Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. Occidental Petroleum’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.77 EPS. On average, equities research analysts expect that Occidental Petroleum Co. will post 1.8 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 8.40%. The ex-dividend date is Monday, December 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 63.07%.
In other Occidental Petroleum news, Director William R. Klesse bought 12,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $39.31 per share, for a total transaction of $471,720.00. Following the transaction, the director now directly owns 113,203 shares in the company, valued at $4,450,009.93. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Klesse bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $45.54 per share, with a total value of $227,700.00. Following the purchase, the director now directly owns 101,203 shares of the company’s stock, valued at $4,608,784.62. The disclosure for this purchase can be found here. Over the last three months, insiders bought 28,000 shares of company stock valued at $1,122,760. Corporate insiders own 0.15% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Clean Yield Group acquired a new stake in Occidental Petroleum in the third quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $30,000. Hall Laurie J Trustee acquired a new position in shares of Occidental Petroleum during the third quarter worth approximately $33,000. Edge Wealth Management LLC raised its holdings in Occidental Petroleum by 93.3% during the third quarter. Edge Wealth Management LLC now owns 773 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 373 shares during the last quarter. Finally, Truewealth LLC lifted its stake in shares of Occidental Petroleum by 52.4% in the third quarter. Truewealth LLC now owns 785 shares of the oil and gas producer’s stock valued at $35,000 after buying an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.
About Occidental Petroleum (NYSE:OXY)
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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