Legal & General Group Plc grew its stake in Occidental Petroleum Corporation (NYSE:OXY) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,020,093 shares of the oil and gas producer’s stock after acquiring an additional 113,934 shares during the period. Legal & General Group Plc owned 0.53% of Occidental Petroleum worth $258,141,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in OXY. Grove Bank & Trust grew its holdings in shares of Occidental Petroleum by 54.8% in the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after acquiring an additional 622 shares in the last quarter. Oakworth Capital Inc. grew its holdings in shares of Occidental Petroleum by 14.7% in the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after acquiring an additional 250 shares in the last quarter. FNY Partners Fund LP bought a new position in shares of Occidental Petroleum in the 1st quarter valued at about $126,000. Fis Group Inc. bought a new position in shares of Occidental Petroleum in the 3rd quarter valued at about $126,000. Finally, Enterprise Financial Services Corp grew its holdings in shares of Occidental Petroleum by 68.5% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock valued at $127,000 after acquiring an additional 806 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.
Shares of Occidental Petroleum Corporation (OXY) traded down $0.06 during mid-day trading on Wednesday, reaching $70.00. 2,723,700 shares of the company’s stock traded hands, compared to its average volume of 4,511,970. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. The firm has a market capitalization of $53,613.09, a P/E ratio of 200.17, a PEG ratio of 14.21 and a beta of 0.65. Occidental Petroleum Corporation has a 1 year low of $57.20 and a 1 year high of $73.51.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the business posted ($0.15) earnings per share. research analysts forecast that Occidental Petroleum Corporation will post 0.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 annualized dividend and a yield of 4.40%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 440.00%.
Several brokerages have recently weighed in on OXY. ValuEngine upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Mizuho set a $71.00 price objective on Occidental Petroleum and gave the company a “hold” rating in a report on Friday, November 24th. Cowen reiterated a “buy” rating and issued a $80.00 target price on shares of Occidental Petroleum in a research note on Thursday, September 28th. Scotiabank reiterated a “hold” rating and issued a $64.00 target price on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. Finally, BMO Capital Markets set a $60.00 target price on shares of Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, October 10th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $67.27.
Occidental Petroleum Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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