Industry News

Occidental Petroleum Co. (NYSE:OXY) Shares Acquired by Eagle Asset Management Inc.

By August 20, 2019 No Comments

Eagle Asset Management Inc. lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,443,161 shares of the oil and gas producer’s stock after purchasing an additional 27,443 shares during the period. Eagle Asset Management Inc. owned about 0.19% of Occidental Petroleum worth $72,562,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Harvest Group Wealth Management LLC bought a new stake in Occidental Petroleum during the first quarter valued at $34,000. Mizuho Securities Co. Ltd. bought a new stake in Occidental Petroleum during the second quarter valued at $30,000. Cornerstone Advisors Inc. increased its stake in Occidental Petroleum by 110.9% during the first quarter. Cornerstone Advisors Inc. now owns 694 shares of the oil and gas producer’s stock valued at $46,000 after purchasing an additional 365 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in Occidental Petroleum during the first quarter valued at $46,000. Finally, TRUE Private Wealth Advisors bought a new stake in Occidental Petroleum during the second quarter valued at $36,000. 80.49% of the stock is currently owned by institutional investors and hedge funds.

In other Occidental Petroleum news, Director Margaret M. Foran purchased 1,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $43.15 per share, with a total value of $43,150.00. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Cedric W. Burgher purchased 2,500 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $43.27 per share, with a total value of $108,175.00. Following the completion of the acquisition, the chief financial officer now directly owns 79,342 shares in the company, valued at approximately $3,433,128.34. The disclosure for this purchase can be found here. Insiders purchased a total of 104,160 shares of company stock valued at $5,023,276 in the last quarter. 0.15% of the stock is currently owned by insiders.

Shares of OXY opened at $44.57 on Monday. The firm has a 50-day moving average price of $49.69 and a 200 day moving average price of $57.62. The firm has a market capitalization of $32.90 billion, a PE ratio of 8.90, a P/E/G ratio of 2.47 and a beta of 0.82. 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 52-week low of $43.08 and a 52-week high of $83.35.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. The firm had revenue of $4.48 billion during 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 was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 EPS. On average, equities analysts expect that Occidental Petroleum Co. will post 3.48 EPS for the current year.

The business also recently announced 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 dividend on an annualized basis and a yield of 7.09%. 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. Occidental Petroleum’s dividend payout ratio is currently 62.28%.

OXY has been the subject of several recent research reports. Wolfe Research lowered shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and lowered their price target for the stock from $85.00 to $65.00 in a research report on Monday, May 13th. Jefferies Financial Group lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and lowered their price target for the stock from $74.00 to $66.00 in a research report on Monday, April 29th. ValuEngine lowered shares of Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 30th. KeyCorp lowered shares of Occidental Petroleum from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, April 24th. Finally, Mizuho lowered shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $83.00 to $70.00 in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $69.88.

About Occidental Petroleum

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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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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