Wetherby Asset Management Inc. increased its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,215 shares of the oil and gas producer’s stock after acquiring an additional 182 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Occidental Petroleum were worth $1,074,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. We Are One Seven LLC bought a new position in shares of Occidental Petroleum during the fourth quarter valued at about $25,000. Country Trust Bank lifted its position in shares of Occidental Petroleum by 434.6% during the fourth quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 339 shares in the last quarter. Pinnacle Bank bought a new position in shares of Occidental Petroleum during the fourth quarter valued at about $28,000. Sontag Advisory LLC bought a new position in shares of Occidental Petroleum during the fourth quarter valued at about $32,000. Finally, Rational Advisors LLC lifted its position in shares of Occidental Petroleum by 83.2% during the fourth quarter. Rational Advisors LLC now owns 555 shares of the oil and gas producer’s stock valued at $34,000 after purchasing an additional 252 shares in the last quarter. 80.53% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on OXY. ValuEngine lowered shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Morgan Stanley set a $69.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a research report on Wednesday, May 8th. Wolfe Research lowered shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and dropped their price target for the company from $85.00 to $65.00 in a research report on Monday, May 13th. Argus lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 price target on the stock. in a research report on Thursday, May 16th. Finally, Citigroup downgraded shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $80.00 to $72.00 in a report on Tuesday, February 19th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $75.30.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.92 earnings per share. As a group, analysts forecast that Occidental Petroleum Co. will post 3.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.12 annualized dividend and a dividend yield of 5.84%. Occidental Petroleum’s payout ratio is 62.28%.
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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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