Occidental Petroleum Co. (NYSE: OXY – Get Rating) shot up 5.9% during mid-day trading on Tuesday after Barclays raised their price target on the stock from $ 74.00 to $ 84.00. Barclays currently has an overweight rating on the stock. Occidental Petroleum traded as high as $ 63.90 and last traded at $ 63.38. 519,649 shares were traded during trading, a decline of 98% from the average session volume of 25,150,588 shares. The stock had previously closed at $ 59.83.
Other analysts have also recently issued research reports about the stock. TheStreet raised shares of Occidental Petroleum from a “c” rating to a “b-” rating in a research note on Thursday, February 24th. Bank of America cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $ 65.00 to $ 80.00 in a research note on Tuesday, March 8th. Capital One Financial boosted their target price on shares of Occidental Petroleum to $ 85.00 and gave the stock an “overweight” rating in a research note on Thursday, May 19th. Piper Sandler raised shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $ 44.00 to $ 88.00 in a research note on Thursday, April 7th. Finally, Wells Fargo & Company boosted their target price on shares of Occidental Petroleum from $ 51.00 to $ 58.00 in a research note on Thursday, May 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $ 66.83.
In other Occidental Petroleum news, CAO Christopher O. Champion sold 111,594 shares of the stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $ 70.44, for a total transaction of $ 7,860,681.36. Following the sale, the chief accounting officer now directly owns 38,303 shares in the company, valued at approximately $ 2,698,063.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vicki A. Hollub bought 14,191 shares of Occidental Petroleum stock in a transaction on Monday, March 28th. The shares were acquired at an average price of $ 56.24 per share, for a total transaction of $ 798,101.84. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 6,783,083 shares of company stock worth $ 387,503,934. Company insiders own 0.31% of the company stock.
Several hedge funds and other institutional investors have recently bought and sold shares of OXY. GQG Partners LLC grew its position in shares of Occidental Petroleum by 16.1% in the 1st quarter. GQG Partners LLC now owns 26,669,384 shares of the oil and gas producer’s stock valued at $ 1,512,799,000 after buying an additional 3,690,561 shares during the last quarter. Laurion Capital Management LP grew its position in Occidental Petroleum by 152.8% during the 4th quarter. Laurion Capital Management LP now owns 5,080,754 shares of the oil and gas producer’s stock worth $ 147,291,000 after purchasing an additional 3,071,233 shares during the last quarter. Asia Research & Capital Management Ltd purchased a new position in Occidental Petroleum during the 1st quarter worth $ 145,651,000. Vanguard Group Inc. grew its position in Occidental Petroleum by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 101,902,647 shares of the oil and gas producer’s stock worth $ 5,781,956,000 after purchasing an additional 2,385,883 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Occidental Petroleum by 90.8% during the 4th quarter. Renaissance Technologies LLC now owns 4,330,541 shares of the oil and gas producer’s stock worth $ 125,542,000 after purchasing an additional 2,061,057 shares during the last quarter. 86.15% of the stock is currently owned by hedge funds and other institutional investors.
The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.99 and a current ratio of 1.16. The company has a market capitalization of $ 58.19 billion, a PE ratio of 9.45, a P / E / G ratio of 0.19 and a beta of 1.92. The company 50-day simple moving average is $ 62.57 and its 200-day simple moving average is $ 48.28.
Occidental Petroleum (NYSE: OXY – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The oil and gas producer reported $ 2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 2.03 by $ 0.09. Occidental Petroleum had a net margin of 25.01% and a return on equity of 47.28%. The company had revenue of $ 8.53 billion for the quarter, compared to the consensus estimate of $ 8.06 billion. During the same period last year, the firm posted ($ 0.15) EPS. Occidental Petroleum’s revenue for the quarter was up 61.2% on a year-over-year basis. Analysts expect that Occidental Petroleum Co. will post 10.36 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Friday, June 10th will be paid a $ 0.13 dividend. This represents a $ 0.52 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, June 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 7.91%.
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, the Middle East, Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.
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