Verition Fund Management LLC bought a new stake in Occidental Petroleum Co. (NYSE:OXY) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 66,832 shares of the oil and gas producer’s stock, valued at approximately $4,341,000.
A number of other large investors have also bought and sold shares of the business. BlackRock Inc. grew its stake in Occidental Petroleum by 1.7% in the first quarter. BlackRock Inc. now owns 51,336,909 shares of the oil and gas producer’s stock valued at $3,334,846,000 after acquiring an additional 857,046 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Occidental Petroleum by 21.2% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock valued at $1,418,851,000 after acquiring an additional 3,366,402 shares during the period. Bank of New York Mellon Corp grew its stake in Occidental Petroleum by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 13,863,294 shares of the oil and gas producer’s stock valued at $1,021,169,000 after acquiring an additional 345,382 shares during the period. Franklin Resources Inc. grew its stake in Occidental Petroleum by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 13,764,887 shares of the oil and gas producer’s stock valued at $1,013,921,000 after acquiring an additional 41,765 shares during the period. Finally, Epoch Investment Partners Inc. grew its stake in Occidental Petroleum by 0.4% in the first quarter. Epoch Investment Partners Inc. now owns 9,777,039 shares of the oil and gas producer’s stock valued at $635,116,000 after acquiring an additional 35,684 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on OXY. ValuEngine upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Jefferies Financial Group upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and boosted their price target for the company from $87.00 to $98.00 in a report on Monday. JPMorgan Chase & Co. boosted their price target on Occidental Petroleum from $74.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. UBS Group began coverage on Occidental Petroleum in a report on Wednesday, March 7th. They issued a “neutral” rating and a $71.00 price target on the stock. Finally, Zacks Investment Research lowered Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Occidental Petroleum has a consensus rating of “Buy” and a consensus target price of $81.13.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.21. Occidental Petroleum had a return on equity of 6.15% and a net margin of 13.47%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the company posted $0.15 earnings per share. Occidental Petroleum’s revenue was up 28.4% on a year-over-year basis. equities research analysts predict that Occidental Petroleum Co. will post 4.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, June 11th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Friday, June 8th. This represents a $3.08 annualized dividend and a yield of 3.63%. Occidental Petroleum’s payout ratio is presently 346.07%.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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