M&R Capital Management Inc. increased its position in shares of Occidental Petroleum Co. (NYSE:OXY – Free Report) by 84.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,847 shares of the oil and gas producer’s stock after purchasing an additional 847 shares during the quarter. M&R Capital Management Inc.’s holdings in Occidental Petroleum were worth $109,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Berkshire Hathaway Inc lifted its holdings in shares of Occidental Petroleum by 8.9% during the first quarter. Berkshire Hathaway Inc now owns 211,707,119 shares of the oil and gas producer’s stock worth $13,216,875,000 after purchasing an additional 17,355,469 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Occidental Petroleum by 2.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,035,799 shares of the oil and gas producer’s stock worth $285,732,000 after purchasing an additional 118,928 shares during the period. Moneta Group Investment Advisors LLC acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth about $267,173,000. First Trust Advisors LP lifted its holdings in Occidental Petroleum by 87.9% in the first quarter. First Trust Advisors LP now owns 3,276,078 shares of the oil and gas producer’s stock valued at $185,885,000 after acquiring an additional 1,532,100 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in Occidental Petroleum by 96.7% in the fourth quarter. Point72 Asset Management L.P. now owns 3,094,009 shares of the oil and gas producer’s stock valued at $194,892,000 after acquiring an additional 1,521,409 shares during the period. Institutional investors and hedge funds own 77.54% of the company’s stock.
In other Occidental Petroleum news, major shareholder Berkshire Hathaway Inc purchased 638,301 shares of the firm’s stock in a transaction dated Monday, June 26th. The shares were acquired at an average price of $57.01 per share, with a total value of $36,389,540.01. Following the purchase, the insider now directly owns 222,629,243 shares in the company, valued at approximately $12,692,093,143.43. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.31% of the company’s stock.
Wall Street Analysts Forecast Growth
Occidental Petroleum Trading Up 1.6 %
NYSE:OXY traded up $1.06 during trading hours on Thursday, hitting $67.38. The company had a trading volume of 3,304,481 shares, compared to its average volume of 11,295,124. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average of $62.50 and a 200 day moving average of $60.87. The company has a market cap of $59.61 billion, a P/E ratio of 11.26, a P/E/G ratio of 0.77 and a beta of 1.77. Occidental Petroleum Co. has a 1 year low of $55.51 and a 1 year high of $76.11.
Occidental Petroleum (NYSE:OXY – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.02). The company had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.92 billion. Occidental Petroleum had a net margin of 21.36% and a return on equity of 31.59%. The firm’s quarterly revenue was down 37.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.16 earnings per share. Sell-side analysts expect that Occidental Petroleum Co. will post 3.81 earnings per share for the current year.
Occidental Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 8th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, September 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 12.22%.
Occidental Petroleum Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, North Africa, and Latin America. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing.
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