Bbva Compass Bancshares Inc. lifted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 25.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,174 shares of the oil and gas producer’s stock after purchasing an additional 2,920 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Occidental Petroleum were worth $1,164,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Westbourne Investment Advisors Inc. bought a new stake in Occidental Petroleum during the 3rd quarter worth approximately $138,000. Kaizen Advisory LLC raised its stake in Occidental Petroleum by 142.0% during the 2nd quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock worth $150,000 after acquiring an additional 1,052 shares during the period. GeoSphere Capital Management LLC bought a new stake in Occidental Petroleum during the 2nd quarter worth approximately $151,000. Spectrum Management Group Inc. bought a new stake in Occidental Petroleum during the 2nd quarter worth approximately $160,000. Finally, Smithfield Trust Co. raised its stake in Occidental Petroleum by 367.1% during the 2nd quarter. Smithfield Trust Co. now owns 1,971 shares of the oil and gas producer’s stock worth $164,000 after acquiring an additional 1,549 shares during the period. Hedge funds and other institutional investors own 80.95% of the company’s stock.
A number of equities research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Occidental Petroleum from $100.00 to $96.00 and set a “buy” rating on the stock in a research note on Monday. ValuEngine cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Raymond James upgraded shares of Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a research note on Monday, October 22nd. They noted that the move was a valuation call. Mitsubishi UFJ Financial Group decreased their target price on shares of Occidental Petroleum to $92.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 16th. Finally, Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Wednesday, October 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum presently has an average rating of “Buy” and a consensus target price of $83.75.
Occidental Petroleum stock opened at $73.34 on Wednesday. The company has a market cap of $52.24 billion, a PE ratio of 82.40, a P/E/G ratio of 1.86 and a beta of 0.80. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. Occidental Petroleum Co. has a 1 year low of $62.47 and a 1 year high of $87.67.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.26. The firm had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $4.60 billion. Occidental Petroleum had a net margin of 15.36% and a return on equity of 9.68%. The company’s revenue for the quarter was up 98.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. As a group, analysts anticipate that Occidental Petroleum Co. will post 5.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend is Friday, December 7th. Occidental Petroleum’s payout ratio is currently 350.56%.
In related news, Director William R. Klesse acquired 5,000 shares of Occidental Petroleum stock in a transaction dated Monday, August 13th. The shares were purchased at an average price of $78.55 per share, for a total transaction of $392,750.00. Following the completion of the transaction, the director now directly owns 77,963 shares in the company, valued at approximately $6,123,993.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.
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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.
Further Reading: Earnings Per Share
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