Municipal Employees Retirement System of Michigan boosted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 47.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,060 shares of the oil and gas producer’s stock after buying an additional 9,310 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Occidental Petroleum were worth $2,141,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of OXY. Dupont Capital Management Corp acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at about $378,000. California Public Employees Retirement System lifted its stake in shares of Occidental Petroleum by 3.3% in the 3rd quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock valued at $131,456,000 after purchasing an additional 64,533 shares in the last quarter. Synovus Financial Corp lifted its stake in shares of Occidental Petroleum by 15.5% in the 4th quarter. Synovus Financial Corp now owns 9,157 shares of the oil and gas producer’s stock valued at $673,000 after purchasing an additional 1,232 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at about $355,000. Finally, Taylor Hoffman Wealth Management acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at about $261,000. 83.00% of the stock is currently owned by hedge funds and other institutional investors.
Occidental Petroleum Co. (NYSE OXY) opened at $64.45 on Friday. The company has a market capitalization of $48,900.65, a P/E ratio of 37.69, a P/E/G ratio of 3.76 and a beta of 0.64. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. Occidental Petroleum Co. has a 52-week low of $57.20 and a 52-week high of $78.09.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, hitting the consensus estimate of $0.41. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the company posted ($0.13) EPS. analysts predict that Occidental Petroleum Co. will post 2.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 9th will be issued a $0.77 dividend. The ex-dividend date is Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.78%. Occidental Petroleum’s dividend payout ratio (DPR) is 180.12%.
OXY has been the topic of several research analyst reports. Goldman Sachs raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Credit Suisse Group initiated coverage on Occidental Petroleum in a research note on Monday, December 11th. They issued a “neutral” rating and a $62.00 price objective on the stock. Citigroup raised Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective on the stock in a research note on Monday, January 22nd. Macquarie initiated coverage on Occidental Petroleum in a research note on Wednesday, January 17th. They issued a “neutral” rating on the stock. Finally, Barclays lifted their price objective on Occidental Petroleum from $45.00 to $47.00 and gave the company an “underweight” rating in a research note on Monday, November 20th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $71.56.
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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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