Eads & Heald Wealth Management reduced its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,525 shares of the oil and gas producer’s stock after selling 840 shares during the period. Eads & Heald Wealth Management’s holdings in Occidental Petroleum were worth $378,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Northern Oak Wealth Management Inc. grew its holdings in Occidental Petroleum by 69.5% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 109,462 shares of the oil and gas producer’s stock worth $5,504,000 after acquiring an additional 44,867 shares in the last quarter. Point View Wealth Management Inc. grew its holdings in Occidental Petroleum by 13.8% during the 2nd quarter. Point View Wealth Management Inc. now owns 11,104 shares of the oil and gas producer’s stock worth $558,000 after acquiring an additional 1,349 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Occidental Petroleum by 4.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 94,723 shares of the oil and gas producer’s stock worth $4,763,000 after acquiring an additional 3,943 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Occidental Petroleum by 8.6% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 124,426 shares of the oil and gas producer’s stock worth $6,256,000 after acquiring an additional 9,821 shares in the last quarter. Finally, Stoneridge Investment Partners LLC grew its holdings in Occidental Petroleum by 55.6% during the 2nd quarter. Stoneridge Investment Partners LLC now owns 68,054 shares of the oil and gas producer’s stock worth $3,422,000 after acquiring an additional 24,329 shares in the last quarter. 80.49% of the stock is currently owned by hedge funds and other institutional investors.
NYSE OXY traded up $0.11 during trading hours on Monday, reaching $43.48. The company’s stock had a trading volume of 6,722,473 shares, compared to its average volume of 11,256,100. The stock has a market cap of $32.54 billion, a PE ratio of 8.68, a PEG ratio of 2.73 and a beta of 0.82. Occidental Petroleum Co. has a fifty-two week low of $41.83 and a fifty-two week high of $83.35. The company’s 50-day moving average is $47.53 and its two-hundred day moving average is $55.82. 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, beating the Zacks’ consensus estimate of $0.91 by $0.06. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The firm had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the prior year, the company earned $1.10 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. Equities analysts expect that Occidental Petroleum Co. will post 3.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.79 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 annualized dividend and a dividend yield of 7.27%. The ex-dividend date is Monday, September 9th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 62.28%.
Several research firms have commented on OXY. JPMorgan Chase & Co. began coverage on shares of Occidental Petroleum in a report on Tuesday, August 13th. They set an “underweight” rating and a $50.00 price target for the company. Wolfe Research cut 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 report on Monday, May 13th. Bank of America reiterated a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum in a report on Monday, August 26th. Argus cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 price target for the company. in a report on Thursday, May 16th. Finally, Piper Jaffray Companies set a $59.00 price target on shares of Occidental Petroleum and gave the stock a “buy” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and five have issued a buy rating to the company. Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $66.48.
In other Occidental Petroleum news, Director Bob Shearer purchased 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $50.22 per share, for a total transaction of $753,300.00. Following the completion of the acquisition, the director now owns 19,218 shares of the company’s stock, valued at approximately $965,127.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Klesse acquired 5,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $44.96 per share, for a total transaction of $224,800.00. Following the purchase, the director now directly owns 96,203 shares of the company’s stock, valued at $4,325,286.88. The disclosure for this purchase can be found here. Insiders have acquired a total of 114,160 shares of company stock worth $5,459,226 over the last ninety days. 0.15% of the stock is 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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