Occidental Petroleum (NYSE:OXY) CEO Purchases $249,852.60 in Stock

Occidental Petroleum Corporation (NYSE:OXY) CEO Richard Jackson acquired 4,770 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The shares were purchased at an average price of $52.38 per share, with a total value of $249,852.60. Following the transaction, the chief executive officer owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Occidental Petroleum Price Performance

NYSE:OXY opened at $49.93 on Friday. The business’s 50-day moving average is $56.36 and its 200 day moving average is $51.78. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a market capitalization of $49.66 billion, a P/E ratio of 12.58 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.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.65% and a net margin of 19.98%.The company’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. On average, equities research analysts forecast that Occidental Petroleum Corporation will post 5.79 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a yield of 2.1%. Occidental Petroleum’s dividend payout ratio is presently 26.20%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 target price on the stock in a research report on Thursday, May 21st. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $64.00 to $63.00 in a research report on Thursday, May 7th. BMO Capital Markets raised their price objective on Occidental Petroleum from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Tuesday, April 7th. Wells Fargo & Company boosted their target price on Occidental Petroleum from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, Susquehanna increased their price target on Occidental Petroleum from $60.00 to $67.00 and gave the company a “positive” rating in a report on Tuesday, April 21st. Nine investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $63.74.

Institutional Trading of Occidental Petroleum

Several institutional investors have recently added to or reduced their stakes in OXY. Woodline Partners LP raised its holdings in shares of Occidental Petroleum by 40.7% in the first quarter. Woodline Partners LP now owns 57,079 shares of the oil and gas producer’s stock worth $2,817,000 after buying an additional 16,506 shares during the period. Marshall Wace LLP bought a new position in Occidental Petroleum in the 2nd quarter valued at $4,584,000. Federated Hermes Inc. increased its stake in Occidental Petroleum by 696.7% in the second quarter. Federated Hermes Inc. now owns 23,997 shares of the oil and gas producer’s stock worth $1,008,000 after purchasing an additional 20,985 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of Occidental Petroleum by 7.4% during the second quarter. Daiwa Securities Group Inc. now owns 105,767 shares of the oil and gas producer’s stock worth $4,443,000 after purchasing an additional 7,285 shares during the last quarter. Finally, AXA S.A. boosted its stake in shares of Occidental Petroleum by 24.3% during the second quarter. AXA S.A. now owns 136,625 shares of the oil and gas producer’s stock valued at $5,740,000 after purchasing an additional 26,741 shares during the period. Institutional investors own 88.70% of the company’s stock.

About Occidental Petroleum

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.