Traders Buy Shares of Occidental Petroleum (OXY) on Weakness

Investors bought shares of Occidental Petroleum Co. (NYSE:OXY) on weakness during trading on Wednesday. $115.07 million flowed into the stock on the tick-up and $55.89 million flowed out of the stock on the tick-down, for a money net flow of $59.18 million into the stock. Of all equities tracked, Occidental Petroleum had the 20th highest net in-flow for the day. Occidental Petroleum traded down ($1.77) for the day and closed at $83.93

OXY has been the subject of a number of recent analyst reports. Piper Jaffray Companies raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $77.00 to $86.00 in a research note on Sunday, April 15th. Citigroup raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 5th. Deutsche Bank raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research note on Friday, March 23rd. JPMorgan Chase & Co. dropped their price target on shares of Occidental Petroleum from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, April 9th. Finally, ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Monday, April 9th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.13.

The stock has a market cap of $65.28 billion, a PE ratio of 94.30, a PEG ratio of 2.90 and a beta of 0.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.26.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.21. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.63 billion. Occidental Petroleum had a net margin of 13.47% and a return on equity of 6.15%. The firm’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. analysts anticipate that Occidental Petroleum Co. will post 4.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, June 11th will be given a $0.77 dividend. The ex-dividend date is Friday, June 8th. This represents a $3.08 annualized dividend and a yield of 3.67%. Occidental Petroleum’s dividend payout ratio (DPR) is 346.07%.

Institutional investors have recently added to or reduced their stakes in the business. YHB Investment Advisors Inc. lifted its position in shares of Occidental Petroleum by 1.8% in the 2nd quarter. YHB Investment Advisors Inc. now owns 40,545 shares of the oil and gas producer’s stock worth $3,393,000 after purchasing an additional 706 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Occidental Petroleum by 0.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 133,331 shares of the oil and gas producer’s stock worth $8,661,000 after purchasing an additional 716 shares during the period. Maple Capital Management Inc. lifted its position in shares of Occidental Petroleum by 1.1% in the 1st quarter. Maple Capital Management Inc. now owns 68,356 shares of the oil and gas producer’s stock worth $4,440,000 after purchasing an additional 730 shares during the period. Wrapmanager Inc. lifted its position in shares of Occidental Petroleum by 3.2% in the 1st quarter. Wrapmanager Inc. now owns 28,053 shares of the oil and gas producer’s stock worth $1,822,000 after purchasing an additional 857 shares during the period. Finally, State Treasurer State of Michigan lifted its position in shares of Occidental Petroleum by 0.4% in the 1st quarter. State Treasurer State of Michigan now owns 225,256 shares of the oil and gas producer’s stock worth $14,633,000 after purchasing an additional 900 shares during the period. 80.77% of the stock is owned by institutional investors.

About Occidental Petroleum

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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