MML Investors Services LLC boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,788 shares of the oil and gas producer’s stock after buying an additional 1,447 shares during the period. MML Investors Services LLC’s holdings in Occidental Petroleum were worth $2,783,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OXY. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Occidental Petroleum by 21.2% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock worth $1,418,851,000 after buying an additional 3,366,402 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in Occidental Petroleum by 22.0% during the third quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock worth $520,341,000 after buying an additional 1,461,761 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Occidental Petroleum by 275.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,985,993 shares of the oil and gas producer’s stock worth $146,288,000 after buying an additional 1,456,337 shares during the last quarter. Schroder Investment Management Group boosted its stake in Occidental Petroleum by 47.9% during the fourth quarter. Schroder Investment Management Group now owns 2,460,021 shares of the oil and gas producer’s stock worth $181,204,000 after buying an additional 797,122 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in Occidental Petroleum by 130.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,055,037 shares of the oil and gas producer’s stock worth $77,715,000 after buying an additional 596,689 shares during the last quarter. 83.00% of the stock is currently owned by institutional investors.
Occidental Petroleum Co. (NYSE:OXY) traded up $0.54 during mid-day trading on Friday, hitting $64.45. The company had a trading volume of 6,189,285 shares, compared to its average volume of 4,819,282. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 0.95. The stock has a market cap of $49,000.12, a P/E ratio of 37.69, a PEG ratio of 3.77 and a beta of 0.64. Occidental Petroleum Co. has a 52-week low of $57.20 and a 52-week high of $78.09.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. The firm had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.54 billion. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. During the same quarter in the previous year, the business earned ($0.13) EPS. sell-side analysts expect that Occidental Petroleum Co. will post 2.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.78%. Occidental Petroleum’s dividend payout ratio is presently 180.12%.
OXY has been the topic of a number of recent research reports. Goldman Sachs raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Barclays boosted their price objective on Occidental Petroleum from $45.00 to $47.00 and gave the stock an “underweight” rating in a research note on Monday, November 20th. Scotiabank restated a “hold” rating and issued a $64.00 target price on shares of Occidental Petroleum in a research report on Wednesday, November 22nd. Mizuho set a $71.00 target price on Occidental Petroleum and gave the company a “hold” rating in a research report on Friday, November 24th. Finally, ValuEngine upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $71.56.
COPYRIGHT VIOLATION WARNING: “Occidental Petroleum Co. (NYSE:OXY) Shares Bought by MML Investors Services LLC” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://ledgergazette.com/2018/03/17/mml-investors-services-llc-grows-position-in-occidental-petroleum-co-oxy.html.
About Occidental Petroleum
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.
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.