Employers Holdings Inc. purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,300 shares of the oil and gas producer’s stock, valued at approximately $216,000.
Other institutional investors also recently made changes to their positions in the company. Harvest Group Wealth Management LLC purchased a new position in Occidental Petroleum in the first quarter valued at approximately $34,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Occidental Petroleum during the second quarter worth approximately $30,000. Cornerstone Advisors Inc. grew its position in shares of Occidental Petroleum by 110.9% during the first quarter. Cornerstone Advisors Inc. now owns 694 shares of the oil and gas producer’s stock worth $46,000 after acquiring an additional 365 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Occidental Petroleum during the first quarter worth approximately $46,000. Finally, TRUE Private Wealth Advisors purchased a new position in shares of Occidental Petroleum during the second quarter worth approximately $36,000. Institutional investors own 81.12% of the company’s stock.
In other news, insider Vicki A. Hollub acquired 37,460 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average cost of $48.15 per share, for a total transaction of $1,803,699.00. Following the transaction, the insider now directly owns 248,326 shares in the company, valued at approximately $11,956,896.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marcia E. Backus acquired 10,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $48.09 per share, for a total transaction of $480,900.00. Following the completion of the transaction, the senior vice president now owns 101,248 shares in the company, valued at $4,869,016.32. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 104,160 shares of company stock worth $5,023,276. 0.15% of the stock is currently owned by insiders.
NYSE:OXY traded up $0.61 during midday trading on Friday, reaching $44.57. The stock had a trading volume of 8,366,200 shares, compared to its average volume of 11,043,772. The firm has a fifty day simple moving average of $49.69 and a two-hundred day simple moving average of $57.62. Occidental Petroleum Co. has a 12-month low of $43.08 and a 12-month high of $83.35. The company has a quick ratio of 1.00, a current ratio of 1.20 and a debt-to-equity ratio of 0.50. The stock has a market cap of $32.70 billion, a P/E ratio of 8.90, a P/E/G ratio of 2.61 and a beta of 0.82.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. Occidental Petroleum had a net margin of 19.65% and a return on equity of 17.06%. The firm had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same period last year, the firm posted $1.10 EPS. Occidental Petroleum’s quarterly revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts anticipate that Occidental Petroleum Co. will post 3.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 10th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 7.09%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Monday, September 9th. Occidental Petroleum’s dividend payout ratio (DPR) is 62.28%.
A number of equities analysts have recently issued reports on OXY shares. Wolfe Research lowered shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and lowered their target price for the stock from $85.00 to $65.00 in a research report on Monday, May 13th. Wells Fargo & Co restated a “hold” rating on shares of Occidental Petroleum in a research report on Friday. Argus lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 target price on the stock. in a research report on Thursday, May 16th. Raymond James set a $80.00 target price on shares of Occidental Petroleum and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Finally, TheStreet lowered shares of Occidental Petroleum from a “b-” rating to a “c+” rating in a research report on Friday, May 24th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $71.95.
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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