Westpac Banking Corp reduced its position in Occidental Petroleum Co. (NYSE:OXY) by 6.6% during the second quarter, Holdings Channel reports. The institutional investor owned 92,545 shares of the oil and gas producer’s stock after selling 6,568 shares during the quarter. Westpac Banking Corp’s holdings in Occidental Petroleum were worth $4,653,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in OXY. Smead Capital Management Inc. bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at about $42,158,000. AMF Pensionsforsakring AB purchased a new position in shares of Occidental Petroleum in the 2nd quarter valued at approximately $29,186,000. First Trust Advisors LP raised its position in shares of Occidental Petroleum by 91.2% in the 1st quarter. First Trust Advisors LP now owns 1,058,169 shares of the oil and gas producer’s stock valued at $70,051,000 after purchasing an additional 504,837 shares during the last quarter. Oslo Asset Management AS purchased a new position in shares of Occidental Petroleum in the 2nd quarter valued at approximately $22,626,000. Finally, Great West Life Assurance Co. Can raised its position in shares of Occidental Petroleum by 17.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,528,844 shares of the oil and gas producer’s stock valued at $166,932,000 after purchasing an additional 373,166 shares during the last quarter. Institutional investors and hedge funds own 81.12% of the company’s stock.
OXY opened at $44.57 on Friday. Occidental Petroleum Co. has a 12-month low of $43.08 and a 12-month high of $83.35. The company has a current ratio of 1.20, a quick ratio of 1.00 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $32.70 billion, a PE ratio of 8.90, a P/E/G ratio of 2.61 and a beta of 0.82. The firm has a 50 day moving average of $49.69 and a two-hundred day moving average of $57.62.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.48 billion during 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 revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, analysts predict that Occidental Petroleum Co. will post 3.56 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Monday, September 9th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a yield of 7.09%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 62.28%.
Several equities analysts recently commented on OXY shares. Wells Fargo & Co reaffirmed a “hold” rating on shares of Occidental Petroleum in a research report on Friday. JPMorgan Chase & Co. started coverage on shares of Occidental Petroleum in a research report on Tuesday. They issued an “underweight” rating and a $50.00 price objective for the company. Jefferies Financial Group lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and decreased their price objective for the company from $74.00 to $66.00 in a research report on Monday, April 29th. Mizuho lowered shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $83.00 to $70.00 in a research report on Monday, April 22nd. Finally, Royal Bank of Canada increased their price objective on shares of Occidental Petroleum to $76.00 in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.95.
In other news, Director Margaret M. Foran bought 1,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $43.15 per share, with a total value of $43,150.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Cedric W. Burgher bought 2,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average cost of $43.27 per share, with a total value of $108,175.00. Following the completion of the acquisition, the chief financial officer now owns 79,342 shares in the company, valued at $3,433,128.34. The disclosure for this purchase can be found here. Insiders have acquired a total of 104,160 shares of company stock valued at $5,023,276 over the last three months. 0.15% of the stock is currently owned by insiders.
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.
Featured Story: If I purchase shares through a brokerage account, am I the holder of record?
Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Co. (NYSE:OXY).
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.