Banco Santander S.A. reduced its stake in Occidental Petroleum Co. (NYSE:OXY) by 59.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,188 shares of the oil and gas producer’s stock after selling 6,134 shares during the quarter. Banco Santander S.A.’s holdings in Occidental Petroleum were worth $211,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of OXY. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum in the 2nd quarter valued at $30,000. Global Trust Asset Management LLC increased its stake in Occidental Petroleum by 2,725.6% in the 2nd quarter. Global Trust Asset Management LLC now owns 12,122 shares of the oil and gas producer’s stock valued at $33,000 after buying an additional 11,693 shares during the last quarter. Harvest Group Wealth Management LLC acquired a new stake in Occidental Petroleum in the 1st quarter valued at $34,000. TRUE Private Wealth Advisors acquired a new stake in Occidental Petroleum in the 2nd quarter valued at $36,000. Finally, Kavar Capital Partners LLC acquired a new stake in Occidental Petroleum in the 2nd quarter valued at $39,000. 80.49% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on OXY. Wells Fargo & Co lowered their price target on shares of Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, August 16th. JPMorgan Chase & Co. began coverage on shares of Occidental Petroleum in a research note on Tuesday, August 13th. They issued an “underweight” rating and a $50.00 price target on the stock. Raymond James set a $80.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a research note on Thursday, May 23rd. Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Tuesday. They issued a “neutral” rating and a $52.50 price target on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Occidental Petroleum to $76.00 in a research note on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the stock. Occidental Petroleum presently has an average rating of “Hold” and an average target price of $66.48.
Occidental Petroleum stock opened at $43.48 on Friday. The firm has a market capitalization of $32.54 billion, a PE ratio of 8.68, a P/E/G ratio of 2.66 and a beta of 0.82. The company’s 50-day moving average is $48.02 and its 200-day moving average is $56.15. Occidental Petroleum Co. has a fifty-two week low of $41.83 and a fifty-two week high of $83.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.20 and a quick ratio of 1.00.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.39 billion. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. Occidental Petroleum’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 EPS. As a group, analysts expect that Occidental Petroleum Co. will post 3.18 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 9th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 7.27%. Occidental Petroleum’s payout ratio is currently 62.28%.
In other news, Director Margaret M. Foran acquired 1,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $43.15 per share, for a total transaction of $43,150.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Marcia E. Backus acquired 10,000 shares of the stock in a transaction dated Monday, June 10th. The shares were purchased at an average price of $48.09 per share, for a total transaction of $480,900.00. Following the completion of the purchase, the senior vice president now directly owns 101,248 shares in the company, valued at $4,869,016.32. The disclosure for this purchase can be found here. Insiders have bought a total of 114,160 shares of company stock worth $5,459,226 over the last 90 days. 0.15% of the stock is owned by company insiders.
Occidental Petroleum 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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