Advanced Asset Management Advisors Inc lifted its position in Occidental Petroleum Co. (NYSE:OXY) by 24.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 23,700 shares of the oil and gas producer’s stock after purchasing an additional 4,590 shares during the period. Occidental Petroleum comprises approximately 0.7% of Advanced Asset Management Advisors Inc’s portfolio, making the stock its 24th biggest holding. Advanced Asset Management Advisors Inc’s holdings in Occidental Petroleum were worth $1,947,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of OXY. Blue Chip Partners Inc. lifted its position in Occidental Petroleum by 7.7% during the third quarter. Blue Chip Partners Inc. now owns 98,870 shares of the oil and gas producer’s stock valued at $8,124,000 after buying an additional 7,045 shares during the period. Russell Investments Group Ltd. raised its position in shares of Occidental Petroleum by 16.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,213,343 shares of the oil and gas producer’s stock worth $181,398,000 after purchasing an additional 313,405 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Occidental Petroleum by 11.0% in the 3rd quarter. Alps Advisors Inc. now owns 623,163 shares of the oil and gas producer’s stock worth $51,205,000 after purchasing an additional 61,862 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Occidental Petroleum by 19.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,625,755 shares of the oil and gas producer’s stock worth $133,751,000 after purchasing an additional 262,967 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its position in Occidental Petroleum by 1.6% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 740,864 shares of the oil and gas producer’s stock worth $60,876,000 after buying an additional 11,774 shares during the last quarter. Hedge funds and other institutional investors own 82.00% of the company’s stock.
A number of equities analysts have weighed in on OXY shares. Piper Jaffray Companies started coverage on Occidental Petroleum in a research report on Friday, September 28th. They issued an “overweight” rating for the company. Mitsubishi UFJ Financial Group decreased their target price on Occidental Petroleum to $92.00 and set a “neutral” rating for the company in a research report on Tuesday, October 16th. Raymond James upgraded Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a research note on Monday, October 22nd. They noted that the move was a valuation call. ValuEngine downgraded Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, Edward Jones upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $86.82.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.26. The company had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $4.60 billion. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The firm’s revenue was up 98.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. On average, sell-side analysts expect that Occidental Petroleum Co. will post 5.2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be issued a dividend of $0.78 per share. The ex-dividend date is Friday, December 7th. This represents a $3.12 annualized dividend and a dividend yield of 4.25%. Occidental Petroleum’s dividend payout ratio (DPR) is 350.56%.
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About Occidental Petroleum
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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