Carillon Tower Advisers Inc. lifted its stake in Occidental Petroleum Co. (NYSE:OXY) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,922 shares of the oil and gas producer’s stock after acquiring an additional 12,149 shares during the period. Carillon Tower Advisers Inc.’s holdings in Occidental Petroleum were worth $13,622,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Essex Savings Bank boosted its stake in Occidental Petroleum by 16.8% during the first quarter. Essex Savings Bank now owns 1,216 shares of the oil and gas producer’s stock valued at $80,000 after buying an additional 175 shares during the period. Wetherby Asset Management Inc. boosted its stake in Occidental Petroleum by 1.1% during the first quarter. Wetherby Asset Management Inc. now owns 16,215 shares of the oil and gas producer’s stock valued at $1,074,000 after buying an additional 182 shares during the period. Fernwood Investment Management LLC raised its position in Occidental Petroleum by 3.0% during the second quarter. Fernwood Investment Management LLC now owns 6,810 shares of the oil and gas producer’s stock valued at $342,000 after purchasing an additional 200 shares in the last quarter. National Asset Management Inc. raised its position in Occidental Petroleum by 1.5% during the first quarter. National Asset Management Inc. now owns 13,404 shares of the oil and gas producer’s stock valued at $889,000 after purchasing an additional 204 shares in the last quarter. Finally, MV Capital Management Inc. raised its position in Occidental Petroleum by 9.6% during the first quarter. MV Capital Management Inc. now owns 2,404 shares of the oil and gas producer’s stock valued at $159,000 after purchasing an additional 210 shares in the last quarter. 80.49% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on OXY. Raymond James set a $80.00 price target on Occidental Petroleum and gave the company a “buy” rating in a research report on Thursday, May 23rd. Royal Bank of Canada raised their price target on Occidental Petroleum to $76.00 in a research report on Tuesday, May 7th. Jefferies Financial Group began coverage on Occidental Petroleum in a research report on Friday, August 23rd. They set a “hold” rating and a $47.00 price target on the stock. TheStreet downgraded Occidental Petroleum from a “b-” rating to a “c+” rating in a research report on Friday, May 24th. Finally, Barclays began coverage on Occidental Petroleum in a research report on Monday, August 19th. They set an “equal weight” rating and a $61.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the company. Occidental Petroleum currently has an average rating of “Hold” and an average target price of $66.48.
OXY opened at $43.37 on Friday. The company has a market cap of $31.53 billion, a P/E ratio of 8.66, a P/E/G ratio of -4.41 and a beta of 0.82. The business’s 50-day moving average price is $48.17 and its 200-day moving average price is $56.26. The company has a current ratio of 1.20, a quick ratio of 1.00 and a debt-to-equity ratio of 0.50. Occidental Petroleum Co. has a 12 month low of $41.83 and a 12 month high of $83.35.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.39 billion. Occidental Petroleum had a return on equity of 17.06% and a net margin of 19.65%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 earnings per share. Equities research analysts forecast that Occidental Petroleum Co. will post 3.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $3.16 annualized dividend and a dividend yield of 7.29%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.78. Occidental Petroleum’s payout ratio is currently 62.28%.
In related news, insider Vicki A. Hollub acquired 37,460 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were purchased at an average price of $48.15 per share, for a total transaction of $1,803,699.00. Following the completion of the acquisition, the insider now owns 248,326 shares in the company, valued at $11,956,896.90. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, SVP Marcia E. Backus acquired 10,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was bought at an average price of $48.09 per share, for a total transaction of $480,900.00. Following the acquisition, the senior vice president now owns 101,248 shares of the company’s stock, valued at approximately $4,869,016.32. The disclosure for this purchase can be found here. In the last quarter, insiders bought 114,160 shares of company stock worth $5,459,226. Company insiders own 0.15% of the company’s stock.
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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