OxFORD Asset Management LLP purchased a new stake in Occidental Petroleum Corporation (NYSE:OXY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 9,769 shares of the oil and gas producer’s stock, valued at approximately $629,000.
Several other institutional investors and hedge funds also recently bought and sold shares of OXY. Capital Research Global Investors acquired a new stake in shares of Occidental Petroleum in the 2nd quarter valued at approximately $179,610,000. Principal Financial Group Inc. boosted its position in Occidental Petroleum by 119.6% during the 2nd quarter. Principal Financial Group Inc. now owns 2,372,784 shares of the oil and gas producer’s stock worth $142,058,000 after buying an additional 1,292,162 shares during the period. Federated Investors Inc. PA boosted its position 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 worth $453,184,000 after buying an additional 1,152,152 shares during the period. Standard Life Investments LTD acquired a new stake in Occidental Petroleum during the 2nd quarter worth approximately $67,920,000. Finally, Vanguard Group Inc. boosted its position in Occidental Petroleum by 2.1% during 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 buying an additional 1,119,588 shares during the period. Institutional investors own 80.16% of the company’s stock.
Several equities research analysts recently commented on OXY shares. Jefferies Group set a $58.00 target price on shares of Occidental Petroleum and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Zacks Investment Research downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, August 31st. Cowen reiterated a “buy” rating and set a $80.00 target price on shares of Occidental Petroleum in a research report on Thursday, September 28th. BMO Capital Markets set a $60.00 target price on shares of Occidental Petroleum and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Finally, Barclays lifted their target price on shares of Occidental Petroleum from $38.00 to $40.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $65.43.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) 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 analyst estimates of $3.13 billion. During the same quarter last year, the business earned ($0.15) EPS. The company’s revenue was up 13.3% compared to the same quarter last year. sell-side analysts forecast that Occidental Petroleum Corporation will post 0.77 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued 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 yield of 4.22%. Occidental Petroleum’s payout ratio is 440.00%.
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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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