Todays Report: Today, Occidental Petroleum Corp. (OXY) Trading 1.8% Higher After Dividend Announcement

Today, Occidental Petroleum Corp. (OXY) Trading 1.8% Higher  After Dividend Announcement

Occidental Petroleum Corp. (NYSE:OXY) shares rose 1.8% on Thursday after the company announced a dividend. The stock traded as high as $74.00 and last traded at $73.85, with a volume of 3,130,770 shares trading hands. The stock had previously closed at $72.54.

The newly announced dividend which will be paid on Friday, January 13th. Stockholders of record on Friday, December 9th will be given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 4.19%. Occidental Petroleum Corp.’s dividend payout ratio (DPR) is currently -29.57%.

OXY has been the subject of a number of recent analyst reports. Mizuho initiated coverage on shares of Occidental Petroleum Corp. in a research report on Wednesday. They set a “buy” rating and a $83.00 price target for the company. Credit Agricole SA restated a “buy” rating on shares of Occidental Petroleum Corp. in a research report on Tuesday, August 16th. Morgan Stanley lowered shares of Occidental Petroleum Corp. from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $58.24 to $70.00 in a research report on Monday, June 13th. They noted that the move was a valuation call. Credit Suisse Group AG restated a “hold” rating and set a $72.00 price target on shares of Occidental Petroleum Corp. in a research report on Monday, September 12th. Finally, Deutsche Bank AG lowered shares of Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 price target for the company. in a research report on Friday, August 5th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $76.06.

The firm’s market cap is $56.35 billion. The firm has a 50 day moving average price of $74.39 and a 200 day moving average price of $74.40.

Occidental Petroleum Corp. (NYSE:OXY) last issued its quarterly earnings data 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 net margin of 71.82% and a negative return on equity of 2.64%. The business earned $2.53 billion during the quarter, compared to analysts’ expectations of $2.73 billion. During the same period last year, the company posted $0.21 EPS. The business’s revenue was down 27.0% on a year-over-year basis. On average, equities analysts expect that Occidental Petroleum Corp. will post ($0.70) EPS for the current year.

In other Occidental Petroleum Corp. news, Director Stephen I. Chazen sold 9,000 shares of Occidental Petroleum Corp. stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $70.50, for a total value of $634,500.00. Following the completion of the transaction, the director now directly owns 1,646,119 shares of the company’s stock, valued at approximately $116,051,389.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen I. Chazen sold 5,000 shares of Occidental Petroleum Corp. stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $76.24, for a total transaction of $381,200.00. Following the completion of the transaction, the director now directly owns 1,750,119 shares of the company’s stock, valued at $133,429,072.56. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Cable Hill Partners LLC boosted its position in Occidental Petroleum Corp. by 0.5% in the second quarter. Cable Hill Partners LLC now owns 3,738 shares of the company’s stock worth $284,000 after buying an additional 18 shares in the last quarter. Kistler Tiffany Companies LLC boosted 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 in the last quarter. NEXT Financial Group Inc boosted its position in Occidental Petroleum Corp. by 0.5% in the second quarter. NEXT Financial Group Inc now owns 3,807 shares of the company’s stock worth $287,000 after buying an additional 19 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in Occidental Petroleum Corp. by 0.4% in the second quarter. Clear Harbor Asset Management LLC now owns 5,387 shares of the company’s stock worth $407,000 after buying an additional 20 shares in the last quarter. Finally, Texan Capital Management boosted its position in Occidental Petroleum Corp. by 0.3% in the second quarter. Texan Capital Management now owns 9,985 shares of the company’s stock worth $754,000 after buying an additional 32 shares in the last quarter. 80.80% of the stock is owned by hedge funds and other institutional investors.

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