Pictet Asset Management Ltd. trimmed its position in Occidental Petroleum Corporation (NYSE:OXY) by 8.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,733 shares of the oil and gas producer’s stock after selling 38,424 shares during the period. Pictet Asset Management Ltd. owned approximately 0.05% of Occidental Petroleum Corporation worth $26,437,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Rehmann Capital Advisory Group acquired a new position in Occidental Petroleum Corporation during the 3rd quarter valued at about $647,000. First Midwest Bank Trust Division acquired a new position in Occidental Petroleum Corporation during the 3rd quarter valued at about $223,000. First Bank & Trust boosted its stake in Occidental Petroleum Corporation by 7.5% during the 3rd quarter. First Bank & Trust now owns 22,361 shares of the oil and gas producer’s stock valued at $1,435,000 after purchasing an additional 1,568 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in Occidental Petroleum Corporation by 1.4% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 122,569 shares of the oil and gas producer’s stock valued at $7,870,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Abbot Financial Management Inc. boosted its stake in Occidental Petroleum Corporation by 16.6% during the 3rd quarter. Abbot Financial Management Inc. now owns 17,175 shares of the oil and gas producer’s stock valued at $1,130,000 after purchasing an additional 2,450 shares during the last quarter. 80.67% of the stock is owned by institutional investors and hedge funds.
Occidental Petroleum Corporation (NYSE OXY) opened at $68.26 on Friday. The stock has a market capitalization of $51.96 billion, a PE ratio of 194.00, a price-to-earnings-growth ratio of 14.39 and a beta of 0.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.11.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum Corporation had a return on equity of 1.31% and a net margin of 4.33%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.15) earnings per share. analysts expect that Occidental Petroleum Corporation will post 0.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.51%. Occidental Petroleum Corporation’s payout ratio is 440.00%.
A number of research firms have issued reports on OXY. Cowen and Company restated a “buy” rating and issued a $75.00 target price on shares of Occidental Petroleum Corporation in a research note on Tuesday, August 22nd. Mizuho restated a “hold” rating and issued a $64.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday. Wolfe Research upgraded Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Zacks Investment Research cut shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Bank of America Corporation lifted their price target on shares of Occidental Petroleum Corporation from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $66.07.
In related news, Director William R. Klesse purchased 10,000 shares of Occidental Petroleum Corporation stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average cost of $61.58 per share, with a total value of $615,800.00. Following the completion of the transaction, the director now owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.
Occidental Petroleum Corporation Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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