Payden & Rygel cut its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 81.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,900 shares of the oil and gas producer’s stock after selling 123,300 shares during the period. Payden & Rygel’s holdings in Occidental Petroleum were worth $1,856,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Glassman Wealth Services boosted its stake in shares of Occidental Petroleum by 0.3% during the 2nd quarter. Glassman Wealth Services now owns 2,474 shares of the oil and gas producer’s stock worth $148,000 after purchasing an additional 8 shares during the period. Good Life Advisors LLC boosted its position in Occidental Petroleum by 0.8% in the 2nd quarter. Good Life Advisors LLC now owns 7,401 shares of the oil and gas producer’s stock valued at $436,000 after buying an additional 58 shares during the period. Savant Capital LLC boosted its position in Occidental Petroleum by 1.5% in the 2nd quarter. Savant Capital LLC now owns 5,154 shares of the oil and gas producer’s stock valued at $309,000 after buying an additional 77 shares during the period. Daiwa Securities Group Inc. boosted its position in Occidental Petroleum by 0.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 24,450 shares of the oil and gas producer’s stock valued at $1,464,000 after buying an additional 100 shares during the period. Finally, Rockland Trust Co. boosted its position in Occidental Petroleum by 3.0% in the 2nd quarter. Rockland Trust Co. now owns 4,374 shares of the oil and gas producer’s stock valued at $262,000 after buying an additional 126 shares during the period. 80.34% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Mizuho set a $71.00 price objective on shares of Occidental Petroleum and gave the company a “hold” rating in a research report on Friday, November 24th. Scotiabank reissued a “hold” rating and issued a $64.00 price objective on shares of Occidental Petroleum in a research report on Wednesday, November 22nd. Barclays boosted their price objective on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Monday, November 20th. Finally, Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. 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. Occidental Petroleum presently has a consensus rating of “Hold” and an average target price of $67.27.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the prior year, the company earned ($0.15) EPS. The company’s revenue was up 13.3% compared to the same quarter last year. equities analysts expect that Occidental Petroleum Corporation will post 0.76 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be given a $0.77 dividend. The ex-dividend date is Friday, December 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.45%. Occidental Petroleum’s payout ratio is presently 440.00%.
Occidental Petroleum Company 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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