November 28, 2016 - By Vivian Park
As exposed in the Security and Exchange Commission, a legal document for the sale of 2,000 shares of Occidental Petroleum Corp by Stephen Chazen was filled. Stephen Chazen is for the time being a director of the company. The public document was filled on November 28, 2016. Stephen Chazen’s shares were sold at average $69.8 for share, and are worth based on the market $139,620 USD, making this sale a very significant one. He also sold 24,000 shares worth $1,623,745 USD in the last 30 days. Having been a very sizable stock deal at Occidental Petroleum Corp, the probability that it remains unnoticed for long was obviously very low. Stephen Chazen right now holds 1.59 million shares which are equivalent to about 0.21% of the California-Company’s market cap (share price times the number of shares outstanding).
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. $95 is the highest target while $54 is the lowest. The $77.27 average target is 12.98% above today’s ($68.39) stock price. Occidental Petroleum Corporation has been the topic of 36 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of Occidental Petroleum Corporation (NYSE:OXY) earned “Buy” rating by Credit Agricole on Tuesday, December 15. The stock has “Neutral” rating given by UBS on Thursday, August 4. The firm has “Hold” rating by Tudor Pickering given on Friday, November 6. Citigroup maintained it with “Neutral” rating and $76 target price in Monday, September 14 report. On Tuesday, January 12 the stock rating was downgraded by Jefferies to “Hold”. The rating was maintained by RBC Capital Markets on Thursday, October 29 with “Sector Perform”. The firm has “Outperform” rating by BMO Capital Markets given on Tuesday, September 29. As per Monday, August 3, the company rating was maintained by Oppenheimer. The rating was maintained by RBC Capital Markets with “Sector Perform” on Friday, July 31. As per Thursday, October 6, the company rating was initiated by Mizuho.
Insitutional Activity: The institutional sentiment decreased to 1.04 in Q2 2016. Its down 0.08, from 1.12 in 2016Q1. The ratio dropped, 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.
Hallmark Management Incorporated, a New Jersey-based fund reported 178,348 shares. Tdam Usa last reported 322,158 shares in the company. Robeco Institutional Asset Management Bv owns 70,540 shares or 0.04% of their US portfolio. Fincl Architects accumulated 1,033 shares or 0.02% of the stock. Confluence Investment Management Ltd owns 134,076 shares or 0.28% of their US portfolio. Deltec Asset Management Ltd Liability holds 4,500 shares or 0.09% of its portfolio. Weaver C Barksdale And Associates holds 1.26% or 9,576 shares in its portfolio. Old Second Natl Bank Of Aurora last reported 31,571 shares in the company. Parametric Limited Liability Co holds 0.22% or 1.87M shares in its portfolio. Bingham Osborn & Scarborough Limited Co last reported 0.05% of its portfolio in the stock. Moreover, Qcm Cayman has 0.13% invested in Occidental Petroleum Corporation (NYSE:OXY) for 3,993 shares. Kistler accumulated 0.05% or 1,346 shares. Levin Strategies Limited Partnership has 3.74% invested in the company for 2.75 million shares. Moreover, Sumitomo Mitsui Asset Limited has 0.13% invested in Occidental Petroleum Corporation (NYSE:OXY) for 58,441 shares. Commonwealth Equity Ser holds 0.04% of its portfolio in Occidental Petroleum Corporation (NYSE:OXY) for 69,667 shares.
Insider Transactions: Since May 31, 2016, the stock had 1 insider buy, and 24 selling transactions for $12.30 million net activity. CHAZEN STEPHEN I had sold 9,000 shares worth $657,960 on Tuesday, October 18. KLESSE WILLIAM R bought $648,900 worth of stock.
The stock decreased 1.95% or $1.36 on November 28, hitting $68.39. About 2.76M shares traded hands. Occidental Petroleum Corporation (NYSE:OXY) has declined 7.12% since April 25, 2016 and is downtrending. It has underperformed by 13.14% the S&P500.
Occidental Petroleum Corporation is an gas and oil exploration and production company. The company has a market cap of $52.19 billion. The Firm operates through three divisions: gas and oil, chemical , and midstream and marketing. It currently has negative earnings. The gas and oil segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.
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.”
Analysts await Occidental Petroleum Corporation (NYSE:OXY) to report earnings on February, 2. They expect $0.06 EPS, up 135.29% or $0.23 from last year’s $-0.17 per share. OXY’s profit will be $45.79M for 284.96 P/E if the $0.06 EPS becomes a reality. After $-0.15 actual EPS reported by Occidental Petroleum Corporation for the previous quarter, Wall Street now forecasts -140.00% EPS growth.
More news for Occidental Petroleum Corporation (NYSE:OXY) were recently published by: Wsj.com, which released: “Occidental Petroleum Acquires Permian Basin Assets for $2 Billion” on October 31, 2016. Bizjournals.com‘s article titled: “This oil and gas company just signed a long-term, 120000 square-foot lease ..” and published on November 04, 2016 is yet another important article.
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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By Vivian Park