Hoylecohen LLC acquired a new stake in shares of Occidental Petroleum (NYSE:OXY) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,762 shares of the oil and gas producer’s stock, valued at approximately $1,235,000.
A number of other institutional investors and hedge funds have also modified their holdings of OXY. Barrow Hanley Mewhinney & Strauss LLC increased its position in Occidental Petroleum by 21.2% during the fourth 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 acquiring an additional 3,366,402 shares during the period. Millennium Management LLC boosted its stake in Occidental Petroleum by 2,791.8% during the fourth quarter. Millennium Management LLC now owns 1,989,031 shares of the oil and gas producer’s stock worth $146,512,000 after buying an additional 1,920,249 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Occidental Petroleum by 22.0% during the third quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock worth $520,341,000 after buying an additional 1,461,761 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Occidental Petroleum by 275.0% during the fourth quarter. Mackenzie Financial Corp now owns 1,985,993 shares of the oil and gas producer’s stock worth $146,288,000 after buying an additional 1,456,337 shares in the last quarter. Finally, Tide Point Capital Management LP acquired a new stake in Occidental Petroleum during the fourth quarter worth $82,756,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:OXY traded down $0.24 during trading hours on Friday, reaching $67.53. 6,898,770 shares of the stock were exchanged, compared to its average volume of 6,046,736. The company has a market cap of $51,854.13, a P/E ratio of 75.88, a price-to-earnings-growth ratio of 3.89 and a beta of 0.65. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Occidental Petroleum has a twelve month low of $57.20 and a twelve month high of $78.09.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, meeting the consensus estimate of $0.41. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the firm posted ($0.13) EPS. analysts anticipate that Occidental Petroleum will post 2.68 earnings per share for the current fiscal year.
The firm also recently declared 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. This represents a $3.08 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Thursday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 346.07%.
Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Occidental Petroleum from $66.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Macquarie assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, January 17th. They issued a “neutral” rating on the stock. Citigroup raised Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price target for the company in a report on Monday, January 22nd. Cowen set a $85.00 price target on Occidental Petroleum and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, Mizuho set a $79.00 price objective on Occidental Petroleum and gave the stock a “hold” rating in a report on Tuesday, January 16th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. Occidental Petroleum currently has an average rating of “Hold” and a consensus target price 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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