Occidental Petroleum Co. (NYSE:OXY) SVP Marcia E. Backus acquired 10,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were bought at an average cost of $48.09 per share, for a total transaction of $480,900.00. Following the transaction, the senior vice president now directly owns 101,248 shares of the company’s stock, valued at approximately $4,869,016.32. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NYSE:OXY traded up $0.06 during trading hours on Monday, hitting $47.90. The company’s stock had a trading volume of 9,859,400 shares, compared to its average volume of 7,797,347. The firm has a market capitalization of $35.93 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 2.46 and a beta of 0.86. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.23 and a quick ratio of 1.03. Occidental Petroleum Co. has a 52-week low of $47.00 and a 52-week high of $86.75.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.72 by $0.12. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.02 billion. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. Occidental Petroleum’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. As a group, equities analysts anticipate that Occidental Petroleum Co. will post 3.89 EPS for the current year.
A number of analysts have recently weighed in on OXY shares. KeyCorp cut their price objective on Occidental Petroleum from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Atlantic Securities lowered Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price objective on the stock. in a research report on Thursday, April 25th. ValuEngine lowered Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 30th. Barclays lowered Occidental Petroleum from an “overweight” rating to an “underweight” rating and cut their price objective for the stock from $77.00 to $70.00 in a research report on Friday, February 15th. Finally, Argus lowered Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 price objective on the stock. in a research report on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $75.30.
Hedge funds have recently modified their holdings of the business. UBS Oconnor LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter worth about $4,604,000. Providence Wealth Advisors LLC grew its holdings in shares of Occidental Petroleum by 18.3% during the first quarter. Providence Wealth Advisors LLC now owns 11,584 shares of the oil and gas producer’s stock worth $774,000 after purchasing an additional 1,791 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Occidental Petroleum by 13.9% during the first quarter. Envestnet Asset Management Inc. now owns 1,027,862 shares of the oil and gas producer’s stock worth $68,044,000 after purchasing an additional 125,245 shares during the last quarter. Aspire Private Capital LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter worth about $410,000. Finally, Korea Investment CORP grew its holdings in shares of Occidental Petroleum by 5.9% during the fourth quarter. Korea Investment CORP now owns 922,832 shares of the oil and gas producer’s stock worth $56,643,000 after purchasing an additional 51,800 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors.
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Occidental Petroleum Company Profile
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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