The stock of Occidental Petroleum Corporation (NYSE:OXY) is a huge mover today! About 2.90M shares traded hands. Occidental Petroleum Corporation (NYSE:OXY) has risen 2.91% since March 3, 2016 and is uptrending. It has underperformed by 5.44% the S&P500.
The move comes after 5 months positive chart setup for the $56.42 billion company. It was reported on Oct, 6 by Barchart.com. We have $122.79 PT which if reached, will make NYSE:OXY worth $37.24B more.
Analysts await Occidental Petroleum Corporation (NYSE:OXY) to report earnings on October, 26. They expect $0.01 earnings per share, down 66.67% or $0.02 from last year’s $0.03 per share. OXY’s profit will be $7.63 million for 1849.50 P/E if the $0.01 EPS becomes a reality. After $-0.18 actual earnings per share reported by Occidental Petroleum Corporation for the previous quarter, Wall Street now forecasts -105.56% EPS growth.
Occidental Petroleum Corporation (NYSE:OXY) Ratings Coverage
Out of 16 analysts covering Occidental Petroleum Corporation (NYSE:OXY), 6 rate it a “Buy”, 2 “Sell”, while 8 “Hold”. This means 38% are positive. Occidental Petroleum Corporation has been the topic of 36 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Wednesday, September 2 by Oppenheimer. On Friday, July 31 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The firm has “Hold” rating given on Friday, August 5 by Deutsche Bank. Barclays Capital maintained the stock with “Underweight” rating in Thursday, July 14 report. The firm earned “Sector Perform” rating on Thursday, October 29 by RBC Capital Markets. The rating was downgraded by JP Morgan on Monday, May 9 to “Neutral”. Credit Agricole initiated the shares of OXY in a report on Tuesday, December 15 with “Buy” rating. As per Monday, September 12, the company rating was downgraded by JP Morgan. The stock has “Buy” rating given by Mizuho on Thursday, October 6. The stock has “Outperform” rating given by Oppenheimer on Monday, August 3.
According to Zacks Investment Research, “Occidental Petroleum Corp. explores for, develops, produces and markets crude oil and natural gas and manufactures and markets a variety of basic chemicals, including chlorine, caustic soda, and ethylene dichloride, as well as specialty chemicals and vinyls, including polyvinyl chloride resins and vinyl chloride monomer. Occidental conducts its principal operations through its oil and gas and chemical subsidiaries.”
Insitutional Activity: The institutional sentiment decreased to 1.12 in Q2 2016. Its down 0.06, from 1.18 in 2016Q1. The ratio turned negative, as 69 funds sold all Occidental Petroleum Corporation shares owned while 340 reduced positions. 79 funds bought stakes while 379 increased positions. They now own 608.99 million shares or 2.93% more from 591.64 million shares in 2016Q1.
High Point Natl Bank & Com holds 0.03% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY) for 1,245 shares. Endurance Wealth Management Inc accumulated 95,631 shares or 1.36% of the stock. Bourgeon Capital Mngmt Ltd Company last reported 1.31% of its portfolio in the stock. Grisanti Cap Mngmt Ltd Co last reported 17,235 shares in the company. Tctc Hldgs Limited Company accumulated 298,597 shares or 1.53% of the stock. Communications Of Toledo Na Oh holds 0.1% or 4,421 shares in its portfolio. Proshare Advsr Ltd Liability Com holds 157,705 shares or 0.15% of its portfolio. Investec Asset North America last reported 1.18% of its portfolio in the stock. The New York-based Spirit Of America Mngmt Corporation Ny has invested 0.59% in Occidental Petroleum Corporation (NYSE:OXY). Klingenstein Fields Ltd Liability Com reported 5,970 shares or 0.02% of all its holdings. Linscomb And Williams reported 142,833 shares or 1.09% of all its holdings. Atalanta Sosnoff Cap Limited Liability Corporation has 201,317 shares for 0.51% of their US portfolio. Bradley Foster And Sargent Inc Ct has 23,998 shares for 0.08% of their US portfolio. Transamerica has 0.29% invested in the company for 37,675 shares. Raymond James &, a Florida-based fund reported 1.77M shares.
Insider Transactions: Since April 12, 2016, the stock had 0 buys, and 24 sales for $11.69 million net activity. $381,200 worth of shares were sold by CHAZEN STEPHEN I on Tuesday, May 10.
Another recent and important Occidental Petroleum Corporation (NYSE:OXY) news was published by Seekingalpha.com which published an article titled: “Occidental Petroleum Raises Its Dividend 1.3% – What Now?” on September 19, 2016.
OXY Company Profile
Occidental Petroleum Corporation (Occidental), incorporated on April 9, 1986, is an gas and oil exploration and production firm with activities in the United States, the Middle East region and Latin America. The Firm operates through three divisions: gas and oil, chemical (OxyChem), and midstream and marketing. The gas and oil segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas. The chemical (OxyChem) segment makes and markets basic chemicals and vinyls. The midstream, marketing segment (midstream and marketing) gathers, processes, transports, stores, purchases and markets oil, condensate, NGLs, natural gas, carbon dioxide (CO2) and power. Additionally, the midstream and marketing segment invests in entities that conduct similar activities. It also trades around its assets, including transportation and storage capacity, and trades oil, NGLs, gas and other commodities. Occidental’s domestic upstream gas and oil activities are located in New Mexico and Texas. International activities are located in Bolivia, Colombia, Oman, Qatar and the United Arab Emirates.
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