Associated Banc Corp raised its holdings in Occidental Petroleum Co. (NYSE:OXY) by 28.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,051 shares of the oil and gas producer’s stock after purchasing an additional 13,182 shares during the quarter. Associated Banc Corp’s holdings in Occidental Petroleum were worth $3,019,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of OXY. Smead Capital Management Inc. bought a new stake in shares of Occidental Petroleum during the second quarter worth $42,158,000. AMF Pensionsforsakring AB bought a new stake in shares of Occidental Petroleum during the second quarter worth $29,186,000. First Trust Advisors LP raised its position in shares of Occidental Petroleum by 91.2% during the first quarter. First Trust Advisors LP now owns 1,058,169 shares of the oil and gas producer’s stock worth $70,051,000 after acquiring an additional 504,837 shares during the last quarter. Oslo Asset Management AS bought a new stake in shares of Occidental Petroleum during the second quarter worth $22,626,000. Finally, Great West Life Assurance Co. Can raised its position in shares of Occidental Petroleum by 17.3% during the first quarter. Great West Life Assurance Co. Can now owns 2,528,844 shares of the oil and gas producer’s stock worth $166,932,000 after acquiring an additional 373,166 shares during the last quarter. Hedge funds and other institutional investors own 80.49% of the company’s stock.
In related news, insider Kenneth Dillon acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average cost of $44.57 per share, with a total value of $222,850.00. Following the completion of the purchase, the insider now directly owns 108,536 shares in the company, valued at $4,837,449.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret M. Foran bought 1,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $43.15 per share, with a total value of $43,150.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 109,160 shares of company stock valued at $5,246,126. 0.15% of the stock is owned by insiders.
Shares of Occidental Petroleum stock opened at $42.37 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.20 and a debt-to-equity ratio of 0.50. Occidental Petroleum Co. has a 12 month low of $42.17 and a 12 month high of $83.35. The business has a fifty day simple moving average of $48.99 and a 200 day simple moving average of $56.97. The stock has a market cap of $31.71 billion, a PE ratio of 8.46, a price-to-earnings-growth ratio of 2.72 and a beta of 0.82.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Occidental Petroleum had a return on equity of 17.06% and a net margin of 19.65%. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the firm earned $1.10 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts expect that Occidental Petroleum Co. will post 3.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.79 per share. The ex-dividend date is Monday, September 9th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.46%. Occidental Petroleum’s payout ratio is 62.28%.
OXY has been the subject of a number of recent research reports. ValuEngine downgraded Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 30th. TheStreet downgraded Occidental Petroleum from a “b-” rating to a “c+” rating in a research report on Friday, May 24th. Morgan Stanley dropped their target price on Occidental Petroleum from $55.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. Jefferies Financial Group initiated coverage on Occidental Petroleum in a research report on Friday. They set a “hold” rating and a $47.00 target price for the company. Finally, Raymond James set a $80.00 target price on Occidental Petroleum and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $66.51.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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