Earnest Partners LLC cut its stake in Occidental Petroleum Corporation (NYSE:OXY) by 10.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,052 shares of the oil and gas producer’s stock after selling 7,102 shares during the period. Earnest Partners LLC’s holdings in Occidental Petroleum were worth $3,728,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Glassman Wealth Services boosted its stake in Occidental Petroleum by 0.3% in the 2nd quarter. Glassman Wealth Services now owns 2,474 shares of the oil and gas producer’s stock worth $148,000 after purchasing an additional 8 shares in the last quarter. Good Life Advisors LLC boosted its stake in Occidental Petroleum by 0.8% in the 2nd quarter. Good Life Advisors LLC now owns 7,401 shares of the oil and gas producer’s stock worth $436,000 after purchasing an additional 58 shares in the last quarter. Savant Capital LLC boosted its stake in Occidental Petroleum by 1.5% in the 2nd quarter. Savant Capital LLC now owns 5,154 shares of the oil and gas producer’s stock worth $309,000 after purchasing an additional 77 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Occidental Petroleum by 0.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 24,450 shares of the oil and gas producer’s stock worth $1,464,000 after purchasing an additional 100 shares in the last quarter. Finally, Rockland Trust Co. boosted its stake in Occidental Petroleum by 3.0% in the 2nd quarter. Rockland Trust Co. now owns 4,374 shares of the oil and gas producer’s stock worth $262,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.
Shares of Occidental Petroleum Corporation (OXY) traded up $0.63 during midday trading on Tuesday, reaching $69.50. 2,855,700 shares of the company’s stock traded hands, compared to its average volume of 4,490,917. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.11. The firm has a market cap of $52,702.45, a PE ratio of 196.77, a price-to-earnings-growth ratio of 13.97 and a beta of 0.65. Occidental Petroleum Corporation has a twelve month low of $57.20 and a twelve month high of $73.51.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.15) EPS. sell-side analysts forecast that Occidental Petroleum Corporation will post 0.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.43%. The ex-dividend date is Friday, December 8th. Occidental Petroleum’s dividend payout ratio (DPR) is 440.00%.
A number of analysts recently commented on the stock. ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Cowen restated a “buy” rating and set a $80.00 price objective on shares of Occidental Petroleum in a research note on Thursday, September 28th. Mizuho set a $71.00 price objective on shares of Occidental Petroleum and gave the company a “hold” rating in a research note on Friday, November 24th. Credit Suisse Group began coverage on shares of Occidental Petroleum in a research note on Monday. They set a “neutral” rating and a $62.00 price objective for the company. Finally, BMO Capital Markets set a $60.00 price objective on shares of Occidental Petroleum and gave the company a “hold” rating in a research note on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $66.07.
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Occidental Petroleum Company 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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