BB&T Securities LLC increased its stake in Occidental Petroleum (NYSE:OXY) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 430,421 shares of the oil and gas producer’s stock after purchasing an additional 7,506 shares during the quarter. BB&T Securities LLC owned about 0.06% of Occidental Petroleum worth $31,704,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Occidental Petroleum by 21.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock worth $1,418,851,000 after buying an additional 3,366,402 shares during the period. Millennium Management LLC increased its holdings in shares of Occidental Petroleum by 2,791.8% in the 4th quarter. Millennium Management LLC now owns 1,989,031 shares of the oil and gas producer’s stock valued at $146,512,000 after purchasing an additional 1,920,249 shares during the period. Epoch Investment Partners Inc. increased its holdings in shares of Occidental Petroleum by 22.0% in 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 period. Mackenzie Financial Corp increased its holdings in shares of Occidental Petroleum by 275.0% in the 4th quarter. Mackenzie Financial Corp now owns 1,985,993 shares of the oil and gas producer’s stock valued at $146,288,000 after purchasing an additional 1,456,337 shares during the period. Finally, Tide Point Capital Management LP acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at about $82,756,000. 82.69% of the stock is owned by institutional investors and hedge funds.
Shares of OXY traded down $0.24 during mid-day trading on Friday, hitting $67.53. The company’s stock had a trading volume of 6,898,770 shares, compared to its average volume of 6,046,736. Occidental Petroleum has a one year low of $57.20 and a one year 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. The stock has a market capitalization of $51,854.13, a price-to-earnings ratio of 75.88, a P/E/G ratio of 3.89 and a beta of 0.65.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. During the same period in the prior year, the business earned ($0.13) earnings per share. equities analysts predict that Occidental Petroleum will post 2.68 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.56%. Occidental Petroleum’s payout ratio is 346.07%.
A number of brokerages have recently weighed in on OXY. Morgan Stanley upped their target price on Occidental Petroleum from $66.00 to $84.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Citigroup upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective on the stock in a report on Monday, January 22nd. Macquarie assumed coverage on Occidental Petroleum in a report on Wednesday, January 17th. They issued a “neutral” rating on the stock. BMO Capital Markets restated a “hold” rating and issued a $75.00 price objective on shares of Occidental Petroleum in a report on Tuesday, February 27th. Finally, Deutsche Bank upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a report on Friday, March 23rd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $72.29.
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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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