Insider Buying: Occidental Petroleum Co. (NYSE:OXY) Director Purchases 12,900 Shares of Stock

Occidental Petroleum Co. (NYSE:OXY) Director Jack B. Moore purchased 12,900 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average cost of $38.61 per share, with a total value of $498,069.00. Following the purchase, the director now owns 129,203 shares of the company’s stock, valued at $4,988,527.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of NYSE:OXY opened at $37.57 on Wednesday. The firm has a market cap of $34.85 billion, a P/E ratio of 7.50, a P/E/G ratio of 4.33 and a beta of 0.85. The company has a quick ratio of 1.23, a current ratio of 1.33 and a debt-to-equity ratio of 1.54. Occidental Petroleum Co. has a 12-month low of $37.25 and a 12-month high of $68.83. The business has a fifty day simple moving average of $39.91 and a 200 day simple moving average of $45.43.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.30). The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.59 billion. Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. As a group, equities research analysts expect that Occidental Petroleum Co. will post 1.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 8.41%. The ex-dividend date of this dividend is Monday, December 9th. Occidental Petroleum’s dividend payout ratio is currently 63.07%.

Several institutional investors have recently bought and sold shares of OXY. Clean Yield Group acquired a new position in shares of Occidental Petroleum in the 3rd quarter worth approximately $29,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at $30,000. Hall Laurie J Trustee bought a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $33,000. Edge Wealth Management LLC increased its position in shares of Occidental Petroleum by 93.3% during the third quarter. Edge Wealth Management LLC now owns 773 shares of the oil and gas producer’s stock worth $34,000 after buying an additional 373 shares during the period. Finally, Truewealth LLC increased its position in shares of Occidental Petroleum by 52.4% during the third quarter. Truewealth LLC now owns 785 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 270 shares during the period. 78.55% of the stock is currently owned by institutional investors.

OXY has been the topic of a number of analyst reports. Piper Jaffray Companies set a $59.00 price objective on shares of Occidental Petroleum and gave the stock a “buy” rating in a research note on Friday, August 16th. Morgan Stanley dropped 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 research report on Friday, October 4th. Jefferies Financial Group began coverage on shares of Occidental Petroleum in a research report on Friday, August 23rd. They issued a “hold” rating and a $47.00 target price for the company. Raymond James decreased their price objective on shares of Occidental Petroleum from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 17th. Finally, ValuEngine upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $58.03.

About Occidental Petroleum

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.

Recommended Story: What is a dividend reinvestment plan?

Insider Buying and Selling by Quarter for Occidental Petroleum (NYSE:OXY)

Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.