Capital International Investors grew its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 3.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,273,652 shares of the oil and gas producer’s stock after buying an additional 289,718 shares during the quarter. Capital International Investors owned 1.08% of Occidental Petroleum worth $531,251,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in OXY. Vanguard Group Inc. grew its holdings in Occidental Petroleum by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock valued at $3,304,357,000 after purchasing an additional 1,119,588 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Occidental Petroleum by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock valued at $830,010,000 after purchasing an additional 247,780 shares during the last quarter. Franklin Resources Inc. grew its holdings in Occidental Petroleum by 1.4% during the 2nd quarter. Franklin Resources Inc. now owns 13,570,361 shares of the oil and gas producer’s stock valued at $812,457,000 after purchasing an additional 186,703 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Occidental Petroleum by 3.6% during the 2nd quarter. Macquarie Group Ltd. now owns 11,948,897 shares of the oil and gas producer’s stock valued at $715,381,000 after purchasing an additional 418,349 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in Occidental Petroleum by 22.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock valued at $520,341,000 after purchasing an additional 1,461,761 shares during the last quarter. Hedge funds and other institutional investors own 80.34% of the company’s stock.
Shares of Occidental Petroleum Corporation (NYSE:OXY) traded up $0.23 during mid-day trading on Friday, reaching $68.87. 3,057,402 shares of the company’s stock were exchanged, compared to its average volume of 3,995,144. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. The company has a market cap of $52,702.43, a P/E ratio of 196.77, a P/E/G ratio of 13.97 and a beta of 0.65. Occidental Petroleum Corporation has a twelve month low of $57.20 and a twelve month high of $73.51.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.07. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.15) EPS. analysts expect that Occidental Petroleum Corporation will post 0.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be paid a $0.77 dividend. The ex-dividend date is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.47%. Occidental Petroleum’s dividend payout ratio is currently 440.00%.
Several equities analysts recently commented on OXY shares. Goldman Sachs Group upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Zacks Investment Research downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Jefferies Group set a $58.00 price target on shares of Occidental Petroleum and gave the company a “hold” rating in a report on Tuesday, August 29th. Bank of America upped their price target on shares of Occidental Petroleum from $70.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 13th. Finally, Barclays upped their price target on shares of Occidental Petroleum from $38.00 to $40.00 and gave the company an “underweight” rating in a report on Wednesday, October 11th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $67.27.
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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.
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