Triangle Securities Wealth Management bought a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,568 shares of the oil and gas producer’s stock, valued at approximately $1,656,000.
Several other large investors have also recently modified their holdings of OXY. We Are One Seven LLC purchased a new position in Occidental Petroleum in the fourth quarter worth $25,000. Country Trust Bank boosted its holdings in Occidental Petroleum by 434.6% during the fourth quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 339 shares in the last quarter. Pinnacle Bank acquired a new position in Occidental Petroleum during the fourth quarter worth about $28,000. Heritage Trust Co grew its position in Occidental Petroleum by 496.2% during the fourth quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 387 shares during the period. Finally, Sontag Advisory LLC purchased a new position in Occidental Petroleum in the fourth quarter valued at about $32,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. Oppenheimer initiated coverage on Occidental Petroleum in a research note on Wednesday, March 27th. They set a “market perform” rating on the stock. Citigroup downgraded Occidental Petroleum from a “buy” rating to a “neutral” rating and cut their price target for the stock from $80.00 to $72.00 in a research note on Tuesday, February 19th. Mizuho reiterated a “buy” rating and issued a $82.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, February 13th. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Finally, Zacks Investment Research upgraded shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $84.56.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. Occidental Petroleum had a net margin of 21.87% and a return on equity of 18.17%. The business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, equities research analysts forecast that Occidental Petroleum Co. will post 3.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, March 11th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is 62.28%.
Occidental Petroleum Company Profile
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.
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