Stock Traders Buy Large Volume of Occidental Petroleum Call Options (NYSE:OXY)

Occidental Petroleum Co. (NYSE:OXY) saw some unusual options trading on Wednesday. Traders purchased 214,235 call options on the company. This represents an increase of 144% compared to the average volume of 87,773 call options.

Occidental Petroleum Stock Down 0.9 %

Shares of Occidental Petroleum stock opened at $50.67 on Friday. The stock’s fifty day moving average is $51.90 and its 200-day moving average is $57.67. The company has a quick ratio of 0.75, a current ratio of 1.00 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $47.55 billion, a PE ratio of 13.20 and a beta of 1.58. Occidental Petroleum has a 12-month low of $48.42 and a 12-month high of $71.18.

Occidental Petroleum Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be given a $0.22 dividend. The ex-dividend date is Tuesday, December 10th. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 22.92%.

Hedge Funds Weigh In On Occidental Petroleum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OXY. Stephens Inc. AR lifted its holdings in shares of Occidental Petroleum by 221.0% in the third quarter. Stephens Inc. AR now owns 15,079 shares of the oil and gas producer’s stock valued at $777,000 after purchasing an additional 10,382 shares in the last quarter. Czech National Bank lifted its stake in Occidental Petroleum by 8.3% in the 3rd quarter. Czech National Bank now owns 137,163 shares of the oil and gas producer’s stock worth $7,069,000 after acquiring an additional 10,456 shares in the last quarter. Discovery Capital Management LLC CT acquired a new stake in Occidental Petroleum during the 2nd quarter worth about $10,331,000. Janney Montgomery Scott LLC grew its stake in Occidental Petroleum by 15.2% during the 3rd quarter. Janney Montgomery Scott LLC now owns 221,970 shares of the oil and gas producer’s stock valued at $11,440,000 after acquiring an additional 29,344 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC acquired a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $593,000. Institutional investors and hedge funds own 88.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on OXY. BMO Capital Markets lowered their price target on shares of Occidental Petroleum from $70.00 to $65.00 and set a “market perform” rating for the company in a research report on Friday, October 4th. Susquehanna dropped their price target on shares of Occidental Petroleum from $77.00 to $65.00 and set a “positive” rating on the stock in a research note on Thursday. Raymond James reduced their price objective on Occidental Petroleum from $85.00 to $77.00 and set a “buy” rating for the company in a research report on Tuesday. Wells Fargo & Company lowered their target price on Occidental Petroleum from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Finally, Scotiabank reduced their price target on Occidental Petroleum from $80.00 to $65.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Occidental Petroleum has an average rating of “Hold” and an average price target of $63.70.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.