Shares of Occidental Petroleum Corporation (NYSE:OXY) traded down 0.26% during trading on Wednesday, reaching $61.37. 5,934,599 shares of the company’s stock traded hands. The stock’s market cap is $46.92 billion. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $78.48. The company has a 50 day moving average price of $60.32 and a 200-day moving average price of $62.88.
Occidental Petroleum Corporation (NYSE:OXY) announced its quarterly earnings results on Wednesday. The oil and gas producer reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01, Bloomberg Earnings reports. Occidental Petroleum Corporation had a negative net margin of 4.82% and a negative return on equity of 1.04%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the business posted ($0.18) earnings per share. The business’s revenue for the quarter was up 40.9% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $3.08 annualized dividend and a yield of 5.02%. This is an increase from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s payout ratio is currently -428.17%.
In other news, CFO Cedric W. Burgher acquired 1,700 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were acquired at an average price of $59.85 per share, with a total value of $101,745.00. Following the purchase, the chief financial officer now directly owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen I. Chazen sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $60.53, for a total transaction of $242,120.00. Following the sale, the director now directly owns 1,460,619 shares in the company, valued at approximately $88,411,268.07. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.
A number of analysts have recently commented on OXY shares. Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Bank of America Corporation reiterated a “buy” rating and issued a $80.00 price target (down from $83.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, May 11th. Barclays PLC reiterated a “sell” rating and issued a $50.00 price target (down from $62.00) on shares of Occidental Petroleum Corporation in a research note on Thursday, April 20th. Credit Suisse Group reiterated a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum Corporation in a research note on Friday, May 19th. Finally, Scotiabank reiterated a “hold” rating and issued a $68.00 price target on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $68.51.
About Occidental Petroleum Corporation
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.