FNY Investment Advisers LLC lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY – Free Report) by 30.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,100 shares of the oil and gas producer’s stock after selling 900 shares during the period. FNY Investment Advisers LLC’s holdings in Occidental Petroleum were worth $123,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in Occidental Petroleum by 150.8% in the 1st quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 593,600 shares of the oil and gas producer’s stock valued at $37,058,000 after acquiring an additional 356,900 shares in the last quarter. BOKF NA raised its holdings in Occidental Petroleum by 57.4% in the 1st quarter. BOKF NA now owns 142,535 shares of the oil and gas producer’s stock valued at $8,898,000 after acquiring an additional 51,971 shares in the last quarter. Argent Trust Co acquired a new position in Occidental Petroleum in the 4th quarter valued at approximately $296,000. Merit Financial Group LLC acquired a new position in Occidental Petroleum in the 1st quarter valued at approximately $217,000. Finally, Commerce Bank raised its holdings in Occidental Petroleum by 3.4% in the 1st quarter. Commerce Bank now owns 39,715 shares of the oil and gas producer’s stock valued at $2,479,000 after acquiring an additional 1,314 shares in the last quarter. Institutional investors and hedge funds own 77.54% of the company’s stock.
Analyst Upgrades and Downgrades
OXY has been the subject of several recent research reports. Stephens reaffirmed an “overweight” rating and issued a $69.00 price target on shares of Occidental Petroleum in a report on Wednesday, August 16th. Susquehanna lowered their price objective on Occidental Petroleum from $75.00 to $72.00 and set a “positive” rating on the stock in a research note on Friday, July 21st. Mizuho upped their price objective on Occidental Petroleum from $68.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, August 16th. Roth Mkm reiterated a “neutral” rating and issued a $60.00 price objective on shares of Occidental Petroleum in a research note on Tuesday, September 12th. Finally, StockNews.com assumed coverage on Occidental Petroleum in a research note on Saturday, August 19th. They issued a “sell” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $69.82.
In other news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $25.00, for a total value of $127,500,000.00. Following the transaction, the insider now owns 185,181,578 shares of the company’s stock, valued at approximately $4,629,539,450. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Petroleum Corp /De/ Occidental sold 5,100,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $25.00, for a total value of $127,500,000.00. Following the transaction, the insider now owns 185,181,578 shares of the company’s stock, valued at approximately $4,629,539,450. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Berkshire Hathaway Inc purchased 638,301 shares of the business’s stock in a transaction dated Monday, June 26th. The stock was bought at an average cost of $57.01 per share, for a total transaction of $36,389,540.01. Following the purchase, the insider now owns 222,629,243 shares in the company, valued at $12,692,093,143.43. The disclosure for this purchase can be found here. 0.31% of the stock is currently owned by company insiders.
Occidental Petroleum Trading Down 1.7 %
OXY traded down $1.15 during mid-day trading on Friday, reaching $66.15. The stock had a trading volume of 23,147,953 shares, compared to its average volume of 7,568,647. The stock has a market capitalization of $58.52 billion, a P/E ratio of 11.23, a P/E/G ratio of 0.81 and a beta of 1.77. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.73 and a current ratio of 1.00. The firm’s fifty day simple moving average is $62.99 and its two-hundred day simple moving average is $61.02. Occidental Petroleum Co. has a 52 week low of $55.51 and a 52 week high of $76.11.
Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.02). The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.16 earnings per share. On average, equities analysts predict that Occidental Petroleum Co. will post 3.8 EPS for the current year.
Occidental Petroleum Announces Dividend
The business 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 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Thursday, September 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 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.
- Five stocks we like better than Occidental Petroleum
- Breakout Stocks: What They Are and How to Identify Them
- 5 Reasons Apple’s New Phone Moves the Needle: 5 That It Won’t
- What Is Dividend Yield and How Do You Calculate It?
- MarketBeat Week in Review – 9/11 – 9/15
- What is an Earnings Surprise?
- China’s Jump In Car Sales Is Drawing Big Money To These Stocks
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.