Avalon Advisors LLC lifted its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 91.4% during the 1st quarter, HoldingsChannel reports. The fund owned 378,142 shares of the oil and gas producer’s stock after buying an additional 180,533 shares during the period. Avalon Advisors LLC’s holdings in Occidental Petroleum were worth $24,564,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Stelac Advisory Services LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter valued at $112,000. Bedel Financial Consulting Inc. acquired a new position in shares of Occidental Petroleum during the 1st quarter valued at $114,000. Silvant Capital Management LLC acquired a new position in shares of Occidental Petroleum during the 1st quarter valued at $141,000. AdvisorNet Financial Inc lifted 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. Finally, Good Life Advisors LLC acquired a new position in shares of Occidental Petroleum during the 4th quarter valued at $203,000. Institutional investors and hedge funds own 80.75% of the company’s stock.
Several research firms recently weighed in on OXY. Mizuho began coverage on shares of Occidental Petroleum in a report on Friday, June 8th. They set a “buy” rating and a $102.00 target price on the stock. Jefferies Financial Group raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and lifted their price target for the stock from $87.00 to $98.00 in a research note on Monday, June 11th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 21st. Citigroup raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 5th. Finally, Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Monday, May 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $81.13.
Shares of OXY traded up $1.35 during midday trading on Tuesday, hitting $82.70. The company had a trading volume of 253,575 shares, compared to its average volume of 5,047,837. The company has a market capitalization of $63.81 billion, a P/E ratio of 92.93, a PEG ratio of 2.93 and a beta of 0.62. Occidental Petroleum Co. has a 52 week low of $57.84 and a 52 week high of $87.67. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.26.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.21. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.63 billion. Occidental Petroleum had a net margin of 13.47% and a return on equity of 6.15%. The company’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS. sell-side analysts expect that Occidental Petroleum Co. will post 4.49 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, June 11th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Friday, June 8th. Occidental Petroleum’s payout ratio is currently 346.07%.
Occidental Petroleum Company Profile
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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