Achmea Investment Management B.V. trimmed its position in Occidental Petroleum Co. (NYSE:OXY) by 95.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,135 shares of the oil and gas producer’s stock after selling 44,336 shares during the quarter. Achmea Investment Management B.V.’s holdings in Occidental Petroleum were worth $107,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of OXY. Essex Savings Bank increased its position in shares of Occidental Petroleum by 16.8% in the 1st quarter. Essex Savings Bank now owns 1,216 shares of the oil and gas producer’s stock valued at $80,000 after acquiring an additional 175 shares during the period. Wetherby Asset Management Inc. increased its position in shares of Occidental Petroleum by 1.1% in the 1st quarter. Wetherby Asset Management Inc. now owns 16,215 shares of the oil and gas producer’s stock valued at $1,074,000 after acquiring an additional 182 shares during the period. Fernwood Investment Management LLC increased its position in shares of Occidental Petroleum by 3.0% in the 2nd quarter. Fernwood Investment Management LLC now owns 6,810 shares of the oil and gas producer’s stock valued at $342,000 after acquiring an additional 200 shares during the period. National Asset Management Inc. increased its position in shares of Occidental Petroleum by 1.5% in the 1st quarter. National Asset Management Inc. now owns 13,404 shares of the oil and gas producer’s stock valued at $889,000 after acquiring an additional 204 shares during the period. Finally, MV Capital Management Inc. increased its position in shares of Occidental Petroleum by 9.6% in the 1st quarter. MV Capital Management Inc. now owns 2,404 shares of the oil and gas producer’s stock valued at $159,000 after acquiring an additional 210 shares during the period. 85.43% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Oscar K. Brown acquired 5,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $42.62 per share, with a total value of $213,100.00. Following the transaction, the insider now owns 114,519 shares in the company, valued at $4,880,799.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Marcia E. Backus purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were bought 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 acquired a total of 114,160 shares of company stock valued at $5,459,226 in the last three months. 0.15% of the stock is currently owned by corporate insiders.
Shares of NYSE OXY traded down $0.74 during midday trading on Tuesday, reaching $42.74. 3,142,659 shares of the stock were exchanged, compared to its average volume of 10,989,848. The company has a 50 day simple moving average of $47.53 and a 200 day simple moving average of $55.82. The stock has a market capitalization of $32.54 billion, a P/E ratio of 8.53, a PEG ratio of 2.85 and a beta of 0.85. 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 Co. has a twelve month low of $41.83 and a twelve month high of $83.35.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.06. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $1.10 EPS. On average, research analysts expect that Occidental Petroleum Co. will post 3.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 7.39%. 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 dividend payout ratio (DPR) is currently 62.28%.
Several equities research analysts have commented on OXY shares. Barclays started coverage on shares of Occidental Petroleum in a report on Monday, August 19th. They issued an “equal weight” rating and a $61.00 price target on the stock. Goldman Sachs Group started coverage on shares of Occidental Petroleum in a report on Tuesday, August 27th. They issued a “neutral” rating and a $52.50 price target on the stock. Piper Jaffray Companies set a $59.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a report on Friday, August 16th. 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 report on Friday, August 16th. Finally, Argus lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 price target on the stock. in a report on Thursday, May 16th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $66.48.
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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