Traders Buy Shares of Occidental Petroleum (OXY) on Weakness

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Investors purchased shares of Occidental Petroleum Co. (NYSE:OXY) on weakness during trading on Monday. $176.59 million flowed into the stock on the tick-up and $123.46 million flowed out of the stock on the tick-down, for a money net flow of $53.13 million into the stock. Of all companies tracked, Occidental Petroleum had the 13th highest net in-flow for the day. Occidental Petroleum traded down ($1.97) for the day and closed at $63.36

A number of brokerages have recently issued reports on OXY. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Zacks Investment Research raised shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 5th. Citigroup cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and dropped their target price for the company from $80.00 to $72.00 in a report on Tuesday, February 19th. Oppenheimer initiated coverage on shares of Occidental Petroleum in a report on Wednesday, March 27th. They issued a “market perform” rating on the stock. Finally, Mizuho reiterated a “buy” rating and issued a $82.00 price target on shares of Occidental Petroleum in a research note on Wednesday, February 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $84.56.

The company has a market cap of $48.86 billion, a P/E ratio of 12.65, a PEG ratio of 1.30 and a beta of 0.83. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.17 and a current ratio of 1.34.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.10. Occidental Petroleum had a net margin of 21.87% and a return on equity of 18.17%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the business earned $0.41 EPS. Occidental Petroleum’s quarterly revenue was up 33.8% on a year-over-year basis. Equities research analysts expect that Occidental Petroleum Co. will post 3.56 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, March 11th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.92%. Occidental Petroleum’s payout ratio is presently 62.28%.

Several large investors have recently made changes to their positions in OXY. Norges Bank acquired a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $475,929,000. Oregon Public Employees Retirement Fund grew its position in shares of Occidental Petroleum by 5,978.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,105,650 shares of the oil and gas producer’s stock worth $83,000 after purchasing an additional 5,021,655 shares in the last quarter. Dodge & Cox grew its position in shares of Occidental Petroleum by 58.7% during the 3rd quarter. Dodge & Cox now owns 9,887,895 shares of the oil and gas producer’s stock worth $812,488,000 after purchasing an additional 3,656,670 shares in the last quarter. Millennium Management LLC grew its position in shares of Occidental Petroleum by 401.0% during the 4th quarter. Millennium Management LLC now owns 3,275,239 shares of the oil and gas producer’s stock worth $201,034,000 after purchasing an additional 2,621,463 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Occidental Petroleum by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 62,477,713 shares of the oil and gas producer’s stock worth $5,133,793,000 after purchasing an additional 1,370,841 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

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Occidental Petroleum Company Profile (NYSE:OXY)

Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.

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