Richard Jackson Buys 4,770 Shares of Occidental Petroleum (NYSE:OXY) Stock

Occidental Petroleum Corporation (NYSE:OXY) CEO Richard Jackson bought 4,770 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of $52.38 per share, for a total transaction of $249,852.60. Following the acquisition, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which is available through this link.

Occidental Petroleum Stock Up 0.1%

Shares of NYSE:OXY opened at $51.14 on Friday. The business’s 50 day moving average is $56.47 and its 200 day moving average is $51.79. Occidental Petroleum Corporation has a 12-month low of $38.80 and a 12-month high of $67.45. The stock has a market cap of $50.87 billion, a price-to-earnings ratio of 12.88 and a beta of 0.14. The company has a quick ratio of 1.01, a current ratio of 1.21 and a debt-to-equity ratio of 0.49.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.46. Occidental Petroleum had a return on equity of 9.65% and a net margin of 19.98%.The business had revenue of $5.11 billion for the quarter, compared to analysts’ expectations of $5.44 billion. During the same period last year, the business earned $0.14 EPS. The business’s revenue was down 8.3% on a year-over-year basis. On average, sell-side analysts forecast that Occidental Petroleum Corporation will post 5.79 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, June 10th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.04 annualized dividend and a yield of 2.0%. Occidental Petroleum’s payout ratio is 26.20%.

Analyst Ratings Changes

OXY has been the topic of several recent analyst reports. Argus raised shares of Occidental Petroleum to a “hold” rating in a research report on Friday, February 27th. The Goldman Sachs Group raised Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $64.00 price target for the company in a research report on Thursday, May 21st. Wells Fargo & Company lifted their price target on Occidental Petroleum from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Raymond James Financial upped their price objective on Occidental Petroleum from $64.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, HSBC raised their target price on Occidental Petroleum from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Nine research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.74.

Hedge Funds Weigh In On Occidental Petroleum

Institutional investors have recently bought and sold shares of the company. Lighthouse Investment Partners LLC purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at $22,345,000. DNB Asset Management AS boosted its stake in Occidental Petroleum by 100.3% during the third quarter. DNB Asset Management AS now owns 267,807 shares of the oil and gas producer’s stock valued at $12,654,000 after buying an additional 134,128 shares during the period. Mirabella Financial Services LLP grew its position in Occidental Petroleum by 154.7% during the third quarter. Mirabella Financial Services LLP now owns 29,566 shares of the oil and gas producer’s stock worth $1,394,000 after buying an additional 17,958 shares in the last quarter. National Pension Service raised its holdings in shares of Occidental Petroleum by 13.0% in the 4th quarter. National Pension Service now owns 1,084,356 shares of the oil and gas producer’s stock valued at $44,589,000 after acquiring an additional 124,879 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Occidental Petroleum by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock valued at $3,696,716,000 after acquiring an additional 699,137 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

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.