Occidental Petroleum (NYSE:OXY) Hits New 1-Year Low at $37.57

Shares of Occidental Petroleum Co. (NYSE:OXY) hit a new 52-week low during 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.

OXY has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, October 4th. Bank of America set a $80.00 target price on shares of Occidental Petroleum and gave the company a “buy” rating in a report on Wednesday, September 18th. Barclays initiated coverage on shares of Occidental Petroleum in a report on Monday, August 19th. They set an “equal weight” rating and a $61.00 target price for the company. SunTrust Banks initiated coverage on shares of Occidental Petroleum in a report on Monday, September 23rd. They set a “hold” rating and a $48.00 target price for the company. Finally, Susquehanna Bancshares initiated coverage on shares of Occidental Petroleum in a report on Thursday, September 5th. They set a “positive” rating and a $55.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $58.03.

The stock’s 50 day moving average price is $40.18 and its 200-day moving average price is $45.87. The company has a quick ratio of 1.23, a current ratio of 1.33 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $34.35 billion, a PE ratio of 7.67, a PEG ratio of 4.28 and a beta of 0.85.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.30). The firm had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Occidental Petroleum had a return on equity of 9.98% and a net margin of 6.34%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the company earned $1.77 earnings per share. On average, analysts forecast that Occidental Petroleum Co. will post 1.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 8.22%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 63.07%.

In other news, Director William R. Klesse acquired 6,000 shares of Occidental Petroleum stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average cost of $38.09 per share, with a total value of $228,540.00. Following the completion of the purchase, the director now directly owns 119,203 shares in the company, valued at approximately $4,540,442.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William R. Klesse acquired 5,000 shares of Occidental Petroleum stock in a transaction dated Friday, September 27th. The stock was purchased at an average cost of $45.54 per share, with a total value of $227,700.00. Following the completion of the purchase, the director now 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.

Several hedge funds and other institutional investors have recently made changes to their positions in OXY. Westside Investment Management Inc. purchased a new position in Occidental Petroleum during the second quarter valued at $55,000. Sumitomo Life Insurance Co. grew its stake in Occidental Petroleum by 3.3% during the second quarter. Sumitomo Life Insurance Co. now owns 24,730 shares of the oil and gas producer’s stock valued at $1,243,000 after acquiring an additional 780 shares in the last quarter. Northpointe Capital LLC purchased a new position in Occidental Petroleum during the second quarter valued at $566,000. Bailard Inc. grew its stake in Occidental Petroleum by 2.1% during the second quarter. Bailard Inc. now owns 27,062 shares of the oil and gas producer’s stock valued at $1,361,000 after acquiring an additional 563 shares in the last quarter. Finally, Capital Investment Counsel Inc grew its stake in Occidental Petroleum by 910.8% during the second quarter. Capital Investment Counsel Inc now owns 38,613 shares of the oil and gas producer’s stock valued at $1,941,000 after acquiring an additional 34,793 shares in the last quarter. 78.53% of the stock is owned by hedge funds and other institutional investors.

Occidental Petroleum Company Profile (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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