Occidental Petroleum Corp. (NYSE:OXY) – Research analysts at Credit Agricole SA cut their Q3 2016 earnings estimates for Occidental Petroleum Corp. in a research report issued to clients and investors on Wednesday. Credit Agricole SA analyst A. Sen now anticipates that the brokerage will post earnings of ($0.13) per share for the quarter, down from their prior estimate of ($0.08). Credit Agricole SA currently has a “Buy” rating on the stock. Credit Agricole SA also issued estimates for Occidental Petroleum Corp.’s FY2016 earnings at ($0.88) EPS.
Other equities research analysts also recently issued reports about the company. Mizuho started coverage on Occidental Petroleum Corp. in a report on Wednesday, October 5th. They issued a “buy” rating and a $83.00 price target for the company. Jefferies Group restated a “hold” rating on shares of Occidental Petroleum Corp. in a report on Thursday, September 8th. Deutsche Bank AG downgraded Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 price objective for the company. in a report on Friday, August 5th. Credit Suisse Group AG reiterated a “hold” rating and set a $72.00 price objective on shares of Occidental Petroleum Corp. in a report on Monday, September 12th. Finally, Raymond James Financial Inc. downgraded Occidental Petroleum Corp. from a “strong-buy” rating to an “outperform” rating and set a $85.00 price objective for the company. in a report on Thursday, July 7th. Three investment 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 stock presently has an average rating of “Hold” and an average price target of $76.06.
Shares of Occidental Petroleum Corp. (NYSE:OXY) traded down 1.20% on Friday, hitting $73.01. The stock had a trading volume of 1,682,479 shares. Occidental Petroleum Corp. has a 52 week low of $58.24 and a 52 week high of $78.48. The stock’s 50-day moving average price is $73.87 and its 200 day moving average price is $74.53. The company’s market cap is $55.77 billion.
Occidental Petroleum Corp. (NYSE:OXY) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.18) EPS for the quarter, hitting analysts’ consensus estimates of ($0.18). Occidental Petroleum Corp. had a negative return on equity of 2.64% and a negative net margin of 71.82%. The company earned $2.53 billion during the quarter, compared to analyst estimates of $2.73 billion. During the same period in the previous year, the company earned $0.21 earnings per share. The company’s quarterly revenue was down 27.0% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 9th will be issued a dividend of $0.76 per share. The ex-dividend date is Wednesday, December 7th. This represents a $3.04 annualized dividend and a yield of 4.11%. Occidental Petroleum Corp.’s payout ratio is currently -29.57%.
In other Occidental Petroleum Corp. news, Director Stephen I. Chazen sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $74.21, for a total transaction of $667,890.00. Following the transaction, the director now owns 1,729,119 shares in the company, valued at approximately $128,317,920.99. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stephen I. Chazen sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $73.95, for a total value of $369,750.00. Following the transaction, the director now owns 1,745,119 shares in the company, valued at approximately $129,051,550.05. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.
A number of institutional investors have recently bought and sold shares of OXY. Kistler Tiffany Companies LLC raised its position in Occidental Petroleum Corp. by 1.4% in the second quarter. Kistler Tiffany Companies LLC now owns 1,346 shares of the company’s stock worth $102,000 after buying an additional 19 shares during the period. First New York Securities LLC NY bought a new position in Occidental Petroleum Corp. during the second quarter worth approximately $110,000. LSV Asset Management bought a new position in Occidental Petroleum Corp. during the second quarter worth approximately $111,000. Oakworth Capital Inc. raised its position in Occidental Petroleum Corp. by 7.0% in the second quarter. Oakworth Capital Inc. now owns 1,521 shares of the company’s stock worth $115,000 after buying an additional 100 shares during the period. Finally, SevenBridge Financial Group LLC bought a new position in Occidental Petroleum Corp. during the second quarter worth approximately $121,000. Hedge funds and other institutional investors own 80.80% of the company’s stock.
Occidental Petroleum Corp. Company Profile
Occidental Petroleum Corporation 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.
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