Rhumbline Advisers raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,382,767 shares of the oil and gas producer’s stock after purchasing an additional 13,749 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Occidental Petroleum worth $88,787,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Strategic Financial Services Inc lifted its holdings in shares of Occidental Petroleum by 0.5% during the first quarter. Strategic Financial Services Inc now owns 35,958 shares of the oil and gas producer’s stock worth $2,278,000 after buying an additional 177 shares in the last quarter. SNS Financial Group LLC bought a new position in shares of Occidental Petroleum in the first quarter worth $318,000. Good Life Advisors LLC bought a new position in Occidental Petroleum in the first quarter valued at about $466,000. Stockman Wealth Management Inc. grew its position in Occidental Petroleum by 41.8% in the first quarter. Stockman Wealth Management Inc. now owns 42,852 shares of the oil and gas producer’s stock valued at $2,715,000 after acquiring an additional 12,641 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Occidental Petroleum by 3.1% during the first quarter. Legal & General Group Plc now owns 3,888,331 shares of the oil and gas producer’s stock worth $246,406,000 after purchasing an additional 118,521 shares during the last quarter. 80.29% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the company. BidaskClub upgraded Occidental Petroleum from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Piper Jaffray Companies set a $55.00 price objective on Occidental Petroleum and gave the stock a “hold” rating in a research note on Friday, August 25th. Barclays PLC set a $38.00 price target on Occidental Petroleum and gave the company a “sell” rating in a research note on Friday, August 4th. Citigroup Inc. lowered Occidental Petroleum from a “neutral” rating to a “sell” rating and dropped their price target for the company from $66.00 to $58.00 in a research note on Friday, July 21st. Finally, Jefferies Group LLC set a $64.00 price target on Occidental Petroleum and gave the company a “hold” rating in a research note on Saturday, July 29th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.07.
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Occidental Petroleum Co. (NYSE:OXY) traded down $0.53 during trading on Monday, hitting $68.17. The company’s stock had a trading volume of 3,493,900 shares, compared to its average volume of 4,525,280. The company has a market cap of $52,130.00, a price-to-earnings ratio of 194.77, a price-to-earnings-growth ratio of 13.71 and a beta of 0.63. Occidental Petroleum Co. has a twelve month low of $57.20 and a twelve month high of $73.51. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.07. Occidental Petroleum had a return on equity of 3.64% and a net margin of 4.24%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the company earned ($0.15) EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. research analysts expect that Occidental Petroleum Co. will post 0.77 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum’s payout ratio is currently 433.80%.
Occidental Petroleum 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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