On March 30, 2023 at 12:43:58 ET an unusually large
$1,450.80K block of Put contracts in Occidental Petroleum
(OXY) was bought,
with a strike price of $60.00 / share, expiring in 232 days (on November 17, 2023).
Fintel tracks all large options trades, and the premium spent on this trade was 3.93 sigmas above the mean, placing it in the 99.99 percentile of all recent large trades made in OXY options.
This trade was first picked up on Fintel’s real time Unusual Option Trades
tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 17.83% Upside
As of March 30, 2023,
the average one-year price target for Occidental Petroleum is $73.16.
The forecasts range from a low of $47.47 to a high of $97.65.
The average price target represents an increase of 17.83% from its latest reported closing price of $62.09.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Occidental Petroleum
is $34,516MM, a decrease of 5.78%.
The projected annual non-GAAP EPS
is $7.76.
What is the Fund Sentiment?
There are 1906 funds or institutions reporting positions in Occidental Petroleum.
This is an increase
of
46
owner(s) or 2.47% in the last quarter.
Average portfolio weight of all funds dedicated to OXY is 0.39%,
a decrease
of 4.92%.
Total shares owned by institutions increased
in the last three months by 0.18% to 824,351K shares.
The put/call ratio of OXY is 0.84, indicating a
bullish
outlook.
What are Large Shareholders Doing?
Berkshire Hathaway
holds 194,352K shares
representing 21.64% ownership of the company.
No change in the last quarter.
Dodge & Cox
holds 92,957K shares
representing 10.35% ownership of the company.
In it’s prior filing, the firm reported owning 94,978K shares, representing
a decrease
of 2.17%.
The firm
decreased
its portfolio allocation in OXY by 9.21% over the last quarter.
DODGX – Dodge & Cox Stock Fund
holds 60,554K shares
representing 6.74% ownership of the company.
No change in the last quarter.
XLE – The Energy Select Sector SPDR Fund
holds 21,048K shares
representing 2.34% ownership of the company.
In it’s prior filing, the firm reported owning 21,771K shares, representing
a decrease
of 3.44%.
The firm
decreased
its portfolio allocation in OXY by 18.44% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 20,724K shares
representing 2.31% ownership of the company.
In it’s prior filing, the firm reported owning 20,840K shares, representing
a decrease
of 0.56%.
The firm
decreased
its portfolio allocation in OXY by 5.86% over the last quarter.
Occidental Petroleum Declares $0.18 Dividend
On February 27, 2023 the company declared a regular
quarterly dividend of $0.18 per share ($0.72 annualized).
Shareholders of record as of March 10, 2023
will receive the payment on April 17, 2023.
Previously, the company paid $0.13 per share.
At the current share price of $62.09 / share,
the stock’s dividend yield is 1.16%.
Looking back five years and taking a sample every week, the average dividend yield has been
3.53%,
the lowest has been 0.07%,
and the highest has been 32.61%.
The standard deviation of yields is 5.36 (n=237).
The current dividend yield is
0.44 standard deviations
below
the historical average.
Additionally, the company’s dividend payout ratio is 0.05.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is -0.77%.
Occidental Petroleum Background Information
(This description is provided by the company.)
Occidental is an international energy company with assets in the United States, Middle East, Africa and Latin America. It is one of the largest oil producers in the U.S., including a leading producer in the Permian and DJ basins, and offshore Gulf of Mexico. Its midstream and marketing segment provides flow assurance and maximizes the value of our oil and gas. Its chemical subsidiary OxyChem manufactures the building blocks for life-enhancing products. Its Oxy Low Carbon Ventures subsidiary is advancing leading-edge technologies and business solutions that economically grow its business while reducing emissions. It is committed to using its global leadership in carbon management to advance a lower-carbon world.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
