Hartford Investment Management Co. grew its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,704 shares of the oil and gas producer’s stock after acquiring an additional 545 shares during the quarter. Hartford Investment Management Co.’s holdings in Occidental Petroleum were worth $5,516,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in OXY. OppenheimerFunds Inc. boosted its stake in Occidental Petroleum by 35.6% during 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 purchasing an additional 268,067 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Occidental Petroleum by 13.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,027,862 shares of the oil and gas producer’s stock worth $68,044,000 after acquiring an additional 125,245 shares in the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of Occidental Petroleum by 98.1% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 7,933 shares of the oil and gas producer’s stock worth $398,000 after acquiring an additional 3,929 shares in the last quarter. Capital Investment Advisors LLC boosted its position in shares of Occidental Petroleum by 15.6% in the second quarter. Capital Investment Advisors LLC now owns 35,790 shares of the oil and gas producer’s stock worth $1,800,000 after buying an additional 4,823 shares during the period. Finally, Gradient Investments LLC boosted its position in shares of Occidental Petroleum by 54.1% in the second quarter. Gradient Investments LLC now owns 168,260 shares of the oil and gas producer’s stock worth $8,460,000 after buying an additional 59,086 shares during the period. Institutional investors own 80.49% of the company’s stock.
Several brokerages have recently commented on OXY. Jefferies Financial Group began coverage on Occidental Petroleum in a research report on Friday, August 23rd. They issued a “hold” rating and a $47.00 target price for the company. Raymond James set a $80.00 price objective on Occidental Petroleum and gave the stock a “buy” rating in a report on Thursday, May 23rd. TheStreet lowered Occidental Petroleum from a “b-” rating to a “c+” rating in a report on Friday, May 24th. Barclays started coverage on Occidental Petroleum in a report on Monday, August 19th. They set an “equal weight” rating and a $61.00 price objective for the company. Finally, Piper Jaffray Companies set a $59.00 target price on Occidental Petroleum and gave the company a “buy” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $66.48.NYSE OXY opened at $43.11 on Thursday. Occidental Petroleum Co. has a 1-year low of $41.83 and a 1-year high of $83.35. The stock’s 50 day moving average is $48.30 and its two-hundred day moving average is $56.37. The company has a current ratio of 1.20, a quick ratio of 1.00 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $31.71 billion, a price-to-earnings ratio of 8.60, a PEG ratio of 2.62 and a beta of 0.82.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. Occidental Petroleum’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts predict that Occidental Petroleum Co. will post 3.18 earnings per share for the current 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 given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 7.33%. The ex-dividend date of this dividend is Monday, September 9th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. Occidental Petroleum’s payout ratio is 62.28%.
In other Occidental Petroleum news, SVP Marcia E. Backus bought 10,000 shares of the company’s stock in a transaction on 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 transaction, the senior vice president now owns 101,248 shares of the company’s stock, valued at approximately $4,869,016.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Cedric W. Burgher bought 4,100 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were acquired at an average price of $49.61 per share, with a total value of $203,401.00. Following the transaction, the chief financial officer now directly owns 76,842 shares in the company, valued at approximately $3,812,131.62. The disclosure for this purchase can be found here. Insiders purchased a total of 114,160 shares of company stock valued at $5,459,226 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.
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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