Oppenheimer Asset Management Inc. reduced its stake in shares of Occidental Petroleum (NYSE:OXY) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,956 shares of the oil and gas producer’s stock after selling 5,744 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Occidental Petroleum were worth $3,766,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Goodman Financial Corp purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $116,000. Bedel Financial Consulting Inc. purchased a new position in shares of Occidental Petroleum during the 1st quarter valued at $114,000. Trustcore Financial Services LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at $153,000. Silvant Capital Management LLC purchased a new position in shares of Occidental Petroleum during the 1st quarter valued at $141,000. Finally, AdvisorNet Financial Inc grew its holdings in shares of Occidental Petroleum by 192.2% during the 1st quarter. AdvisorNet Financial Inc now owns 2,580 shares of the oil and gas producer’s stock valued at $168,000 after acquiring an additional 1,697 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.
OXY stock opened at $82.40 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.26 and a quick ratio of 1.11. Occidental Petroleum has a 52-week low of $57.84 and a 52-week high of $86.38. The stock has a market cap of $64.22 billion, a price-to-earnings ratio of 50.52, a PEG ratio of 3.21 and a beta of 0.60.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.21. Occidental Petroleum had a net margin of 13.47% and a return on equity of 6.15%. The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.63 billion. During the same period in the prior year, the company earned $0.15 earnings per share. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. equities analysts anticipate that Occidental Petroleum will post 4.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, June 11th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Friday, June 8th. Occidental Petroleum’s dividend payout ratio (DPR) is 346.07%.
A number of brokerages recently issued reports on OXY. Piper Jaffray Companies upgraded shares of Occidental Petroleum from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $77.00 to $86.00 in a report on Sunday, April 15th. Deutsche Bank upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a report on Friday, March 23rd. ValuEngine cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. JPMorgan Chase & Co. decreased their price objective on shares of Occidental Petroleum from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, April 9th. Finally, Zacks Investment Research cut shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. Occidental Petroleum presently has a consensus rating of “Hold” and a consensus price target of $76.94.
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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