NWQ Investment Management Company LLC cut its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 42.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 555,018 shares of the oil and gas producer’s stock after selling 417,238 shares during the quarter. NWQ Investment Management Company LLC’s holdings in Occidental Petroleum were worth $40,883,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of OXY. Raymond James Financial Services Advisors Inc. increased its position in shares of Occidental Petroleum by 5.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 234,903 shares of the oil and gas producer’s stock worth $15,083,000 after buying an additional 11,455 shares during the period. Jennison Associates LLC increased its position in shares of Occidental Petroleum by 50.6% during the third quarter. Jennison Associates LLC now owns 9,043 shares of the oil and gas producer’s stock worth $581,000 after buying an additional 3,039 shares during the period. Global X MANAGEMENT CO LLC increased its position in shares of Occidental Petroleum by 13.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 17,228 shares of the oil and gas producer’s stock worth $1,106,000 after buying an additional 1,988 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in shares of Occidental Petroleum during the third quarter worth $5,231,000. Finally, CIBC Asset Management Inc increased its position in shares of Occidental Petroleum by 1.9% during the third quarter. CIBC Asset Management Inc now owns 118,984 shares of the oil and gas producer’s stock worth $7,640,000 after buying an additional 2,163 shares during the period. Institutional investors own 83.00% of the company’s stock.
Several equities research analysts have recently weighed in on OXY shares. Macquarie started coverage on shares of Occidental Petroleum in a research report on Wednesday, January 17th. They set a “neutral” rating for the company. Cowen set a $85.00 price target on shares of Occidental Petroleum and gave the stock a “buy” rating in a report on Thursday, January 18th. Goldman Sachs Group upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Bank of America cut shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $80.00 price target for the company. in a report on Thursday, January 4th. They noted that the move was a valuation call. Finally, UBS Group initiated coverage on shares of Occidental Petroleum in a report on Wednesday, March 7th. They issued a “neutral” rating and a $71.00 price target for the company. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Occidental Petroleum has a consensus rating of “Hold” and a consensus price target of $71.56.
Occidental Petroleum Co. (OXY) opened at $63.89 on Tuesday. The stock has a market cap of $48,717.02, a PE ratio of 71.54, a PEG ratio of 3.76 and a beta of 0.64. Occidental Petroleum Co. has a twelve month low of $57.20 and a twelve month high of $78.09. 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 (NYSE:OXY) last issued its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. During the same period last year, the company earned ($0.13) earnings per share. sell-side analysts anticipate that Occidental Petroleum Co. will post 2.6 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 9th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s dividend payout ratio is currently 180.12%.
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Occidental Petroleum 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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