Epoch Investment Partners Inc. increased its position in Occidental Petroleum Corporation (NYSE:OXY) by 22.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,103,731 shares of the oil and gas producer’s stock after acquiring an additional 1,461,761 shares during the period. Occidental Petroleum makes up about 1.7% of Epoch Investment Partners Inc.’s investment portfolio, making the stock its 6th biggest position. Epoch Investment Partners Inc. owned approximately 1.06% of Occidental Petroleum worth $520,341,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Occidental Petroleum by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock worth $3,304,357,000 after acquiring an additional 1,119,588 shares during the period. Bank of New York Mellon Corp grew its holdings in Occidental Petroleum by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock valued at $830,010,000 after buying an additional 247,780 shares during the last quarter. Franklin Resources Inc. grew its holdings in Occidental Petroleum by 1.4% during the 2nd quarter. Franklin Resources Inc. now owns 13,570,361 shares of the oil and gas producer’s stock valued at $812,457,000 after buying an additional 186,703 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Occidental Petroleum by 3.6% during the 2nd quarter. Macquarie Group Ltd. now owns 11,948,897 shares of the oil and gas producer’s stock valued at $715,381,000 after buying an additional 418,349 shares during the last quarter. Finally, Federated Investors Inc. PA grew its holdings in Occidental Petroleum by 18.0% during the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after buying an additional 1,152,152 shares during the last quarter. Institutional investors and hedge funds own 80.34% of the company’s stock.
Occidental Petroleum Corporation (OXY) traded down $0.26 during trading hours on Monday, reaching $70.24. The company’s stock had a trading volume of 4,972,500 shares, compared to its average volume of 4,523,272. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $73.51. The stock has a market capitalization of $53,750.83, a price-to-earnings ratio of 200.69, a PEG ratio of 14.25 and a beta of 0.65.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.38%. Occidental Petroleum’s dividend payout ratio is presently 440.00%.
A number of equities research analysts have commented on OXY shares. Cowen reiterated a “buy” rating and set a $75.00 target price on shares of Occidental Petroleum in a report on Tuesday, August 22nd. BidaskClub cut Occidental Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Piper Jaffray Companies set a $55.00 target price on Occidental Petroleum and gave the company a “hold” rating in a report on Friday, August 25th. Jefferies Group set a $58.00 price target on Occidental Petroleum and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Finally, Zacks Investment Research lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $67.27.
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About Occidental Petroleum
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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