Goelzer Investment Management Inc. lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,839 shares of the oil and gas producer’s stock after selling 280 shares during the period. Goelzer Investment Management Inc.’s holdings in Occidental Petroleum were worth $294,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of OXY. OppenheimerFunds Inc. grew its position in shares of Occidental Petroleum by 35.6% in the 1st quarter. OppenheimerFunds Inc. now owns 1,020,876 shares of the oil and gas producer’s stock valued at $67,582,000 after buying an additional 268,067 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Occidental Petroleum by 13.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,027,862 shares of the oil and gas producer’s stock valued at $68,044,000 after purchasing an additional 125,245 shares during the period. Flagship Harbor Advisors LLC lifted its stake in shares of Occidental Petroleum by 98.1% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 7,933 shares of the oil and gas producer’s stock valued at $398,000 after purchasing an additional 3,929 shares during the period. Gradient Investments LLC lifted its stake in shares of Occidental Petroleum by 54.1% in the 2nd quarter. Gradient Investments LLC now owns 168,260 shares of the oil and gas producer’s stock valued at $8,460,000 after purchasing an additional 59,086 shares during the period. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in shares of Occidental Petroleum by 27.6% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 7,400 shares of the oil and gas producer’s stock valued at $490,000 after purchasing an additional 1,600 shares during the period. Institutional investors and hedge funds own 81.12% of the company’s stock.
A number of brokerages have recently issued reports on OXY. Argus downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 price objective on the stock. in a research note on Thursday, May 16th. ValuEngine downgraded Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research note on Tuesday, April 30th. TheStreet downgraded Occidental Petroleum from a “b-” rating to a “c+” rating in a research note on Friday, May 24th. Royal Bank of Canada upped their price target on Occidental Petroleum to $76.00 in a research note on Tuesday, May 7th. Finally, Atlantic Securities downgraded Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price target on the stock. in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $69.88.Shares of Occidental Petroleum stock traded up $0.61 on Friday, hitting $44.57. The company had a trading volume of 8,366,200 shares, compared to its average volume of 11,026,965. The stock has a market capitalization of $32.90 billion, a price-to-earnings ratio of 8.90, a P/E/G ratio of 2.47 and a beta of 0.82. Occidental Petroleum Co. has a 1 year low of $43.08 and a 1 year high of $83.35. The stock has a 50 day moving average of $49.69 and a 200-day moving average of $57.62. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.00 and a current ratio of 1.20.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. The firm had revenue of $4.48 billion during 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. Equities analysts anticipate that Occidental Petroleum Co. will post 3.48 earnings per share for the current 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 paid a $0.79 dividend. The ex-dividend date is Monday, September 9th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 7.09%. Occidental Petroleum’s dividend payout ratio is 62.28%.
In other Occidental Petroleum news, insider Vicki A. Hollub bought 37,460 shares of Occidental Petroleum stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $48.15 per share, with a total value of $1,803,699.00. Following the completion of the acquisition, the insider now directly owns 248,326 shares in the company, valued at approximately $11,956,896.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Margaret M. Foran bought 1,000 shares of Occidental Petroleum stock in a transaction dated 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 three months, insiders bought 104,160 shares of company stock valued at $5,023,276. 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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