Advisory Services Network LLC grew its position in Occidental Petroleum Co. (NYSE:OXY) by 227.8% in the 4th quarter, Holdings Channel reports. The firm owned 9,636 shares of the oil and gas producer’s stock after buying an additional 6,696 shares during the period. Advisory Services Network LLC’s holdings in Occidental Petroleum were worth $710,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goodman Financial Corp bought a new position in Occidental Petroleum in the 4th quarter worth about $116,000. Fis Group Inc. bought a new position in Occidental Petroleum in the 3rd quarter worth about $126,000. Enterprise Financial Services Corp grew its position in Occidental Petroleum by 68.5% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock worth $127,000 after purchasing an additional 806 shares during the last quarter. Field & Main Bank bought a new position in Occidental Petroleum in the 4th quarter worth about $166,000. Finally, Davis R M Inc. bought a new position in Occidental Petroleum in the 4th quarter worth about $203,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.
Several research analysts have commented on OXY shares. Goldman Sachs Group upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Credit Suisse Group started coverage on shares of Occidental Petroleum in a research report on Monday, December 11th. They issued a “neutral” rating and a $62.00 target price for the company. Citigroup upgraded shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 target price for the company in a research report on Monday, January 22nd. Jefferies Group increased their price objective on shares of Occidental Petroleum from $62.00 to $66.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Finally, Macquarie began coverage on shares of Occidental Petroleum in a report on Wednesday, January 17th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Occidental Petroleum presently has an average rating of “Hold” and an average target price of $70.60.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.41. The business had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the previous year, the business posted ($0.13) earnings per share. analysts anticipate that Occidental Petroleum Co. will post 2.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s payout ratio is 433.80%.
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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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