Traders Buy Shares of Occidental Petroleum (OXY) on Weakness

Investors bought shares of Occidental Petroleum Corporation (NYSE:OXY) on weakness during trading hours on Thursday. $62.29 million flowed into the stock on the tick-up and $38.60 million flowed out of the stock on the tick-down, for a money net flow of $23.69 million into the stock. Of all stocks tracked, Occidental Petroleum had the 32nd highest net in-flow for the day. Occidental Petroleum traded down ($0.04) for the day and closed at $74.96

A number of analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “strong-buy” rating and set a $85.00 target price on the stock in a report on Thursday. Bank of America cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $80.00 target price on the stock. in a report on Thursday. They noted that the move was a valuation call. Mizuho set a $71.00 target price on shares of Occidental Petroleum and gave the company a “hold” rating in a report on Friday, November 24th. Scotiabank restated a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum in a report on Wednesday, November 22nd. Finally, Barclays boosted their target price on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company an “underweight” rating in a report on Monday, November 20th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $67.00.

The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. The company has a market cap of $57,360.00, a P/E ratio of 105.58, a PEG ratio of 7.13 and a beta of 0.65.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.15) EPS. research analysts expect that Occidental Petroleum Corporation will post 0.78 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Capital Research Global Investors purchased a new stake in shares of Occidental Petroleum during the 2nd quarter valued at about $179,610,000. Epoch Investment Partners Inc. increased its position in shares of Occidental Petroleum by 22.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock valued at $520,341,000 after purchasing an additional 1,461,761 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Occidental Petroleum by 119.6% in the 2nd quarter. Principal Financial Group Inc. now owns 2,372,784 shares of the oil and gas producer’s stock worth $142,058,000 after acquiring an additional 1,292,162 shares in the last quarter. Standard Life Investments LTD purchased a new stake in Occidental Petroleum in the 2nd quarter worth approximately $67,920,000. Finally, Vanguard Group Inc. increased its holdings in Occidental Petroleum by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock worth $3,304,357,000 after acquiring an additional 1,119,588 shares in the last quarter. 80.16% of the stock is owned by hedge funds and other institutional investors.

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Occidental Petroleum Company Profile

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.

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