Traders Sell Occidental Petroleum (OXY) on Strength (OXY)

Traders sold shares of Occidental Petroleum Corporation (NYSE:OXY) on strength during trading on Thursday. $19.31 million flowed into the stock on the tick-up and $36.38 million flowed out of the stock on the tick-down, for a money net flow of $17.07 million out of the stock. Of all companies tracked, Occidental Petroleum had the 0th highest net out-flow for the day. Occidental Petroleum traded up $0.38 for the day and closed at $73.70

Several equities analysts have commented on OXY shares. Scotiabank reissued a “hold” rating and set a $64.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, November 22nd. Zacks Investment Research raised Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. BMO Capital Markets set a $60.00 price objective on Occidental Petroleum and gave the company a “hold” rating in a research report on Tuesday, October 10th. Jefferies Group reissued a “hold” rating and set a $58.00 price objective on shares of Occidental Petroleum in a research report on Friday, October 6th. Finally, Credit Suisse Group started coverage on Occidental Petroleum in a research report on Monday, December 11th. They set a “neutral” rating and a $62.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $65.43.

The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.11. The stock has a market cap of $56,398.58, a price-to-earnings ratio of 105.23, a price-to-earnings-growth ratio of 14.86 and a beta of 0.65.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the company earned ($0.15) earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. equities research analysts predict that Occidental Petroleum Corporation will post 0.78 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be issued a $0.77 dividend. The ex-dividend date is Friday, December 8th. This represents a $3.08 annualized dividend and a yield of 4.18%. Occidental Petroleum’s payout ratio is 440.00%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barometer Capital Management Inc. bought a new stake in Occidental Petroleum in the 3rd quarter worth about $12,213,000. Federated Investors Inc. PA increased its holdings in Occidental Petroleum by 18.0% in the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock worth $453,184,000 after buying an additional 1,152,152 shares in the last quarter. BB&T Securities LLC increased its holdings in Occidental Petroleum by 71.1% in the 2nd quarter. BB&T Securities LLC now owns 452,611 shares of the oil and gas producer’s stock worth $27,097,000 after buying an additional 188,009 shares in the last quarter. Cornerstone Capital Inc. increased its holdings in Occidental Petroleum by 4.2% in the 2nd quarter. Cornerstone Capital Inc. now owns 128,712 shares of the oil and gas producer’s stock worth $7,706,000 after buying an additional 5,215 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Occidental Petroleum by 0.9% in the 3rd quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock worth $185,698,000 after buying an additional 25,100 shares in the last quarter. Institutional investors own 80.16% of the company’s stock.

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About Occidental Petroleum

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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