Rehmann Capital Advisory Group Grows Holdings in Occidental Petroleum Co. (OXY)

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Rehmann Capital Advisory Group raised its stake in Occidental Petroleum Co. (NYSE:OXY) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,141 shares of the oil and gas producer’s stock after buying an additional 666 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Occidental Petroleum were worth $915,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in OXY. Captrust Financial Advisors increased its stake in shares of Occidental Petroleum by 313.8% during the 2nd quarter. Captrust Financial Advisors now owns 14,116 shares of the oil and gas producer’s stock worth $1,192,000 after purchasing an additional 10,705 shares during the last quarter. Highstreet Asset Management Inc. acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth $663,000. Dynamic Technology Lab Private Ltd increased its stake in shares of Occidental Petroleum by 70.7% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 33,464 shares of the oil and gas producer’s stock worth $2,800,000 after purchasing an additional 13,864 shares during the last quarter. Garnet Equity Capital Holdings Inc. acquired a new position in shares of Occidental Petroleum during the 3rd quarter worth $5,752,000. Finally, Boston Partners acquired a new position in shares of Occidental Petroleum during the 2nd quarter worth $211,000. Hedge funds and other institutional investors own 81.63% of the company’s stock.

NYSE:OXY opened at $66.54 on Friday. Occidental Petroleum Co. has a 1 year low of $62.47 and a 1 year high of $87.67. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $50.98 billion, a P/E ratio of 74.76, a PEG ratio of 2.15 and a beta of 0.82.

Occidental Petroleum (NYSE:OXY) last posted its earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.26. Occidental Petroleum had a net margin of 22.19% and a return on equity of 15.43%. The business had revenue of $6.18 billion for the quarter, compared to analyst estimates of $4.60 billion. During the same period last year, the business posted $0.18 EPS. Occidental Petroleum’s revenue was up 98.9% compared to the same quarter last year. Research analysts forecast that Occidental Petroleum Co. will post 5.23 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 10th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Friday, December 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 350.56%.

Several brokerages have recently commented on OXY. Cowen began coverage on shares of Occidental Petroleum in a research note on Thursday, November 29th. They set a “market perform” rating and a $80.00 price target on the stock. Argus restated a “buy” rating and set a $97.00 price target on shares of Occidental Petroleum in a research note on Monday, November 26th. Zacks Investment Research lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. Morgan Stanley dropped their price target on shares of Occidental Petroleum from $96.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, November 20th. Finally, Citigroup dropped their price target on shares of Occidental Petroleum from $97.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, November 14th. Nine analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Occidental Petroleum presently has a consensus rating of “Buy” and an average price target of $88.00.

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Occidental Petroleum Company Profile

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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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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