Panagora Asset Management Inc. Has $14.65 Million Holdings in Occidental Petroleum Co. (OXY)

Panagora Asset Management Inc. boosted its position in Occidental Petroleum Co. (NYSE:OXY) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 178,246 shares of the oil and gas producer’s stock after purchasing an additional 1,689 shares during the period. Panagora Asset Management Inc.’s holdings in Occidental Petroleum were worth $14,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Occidental Petroleum by 170.8% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,327 shares of the oil and gas producer’s stock worth $109,000 after acquiring an additional 837 shares during the period. Westbourne Investment Advisors Inc. purchased a new position in shares of Occidental Petroleum during the third quarter worth approximately $138,000. GeoSphere Capital Management LLC purchased a new position in shares of Occidental Petroleum during the second quarter worth approximately $151,000. Obermeyer Wood Investment Counsel Lllp purchased a new position in shares of Occidental Petroleum during the second quarter worth approximately $200,000. Finally, Edmonds Duncan Registered Investment Advisors LLC purchased a new position in shares of Occidental Petroleum during the second quarter worth approximately $201,000. 81.53% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on the stock. Piper Jaffray Companies assumed coverage on shares of Occidental Petroleum in a research report on Friday, September 28th. They set an “overweight” rating on the stock. ValuEngine lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Wednesday, October 10th. National Alliance Securities raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. Finally, Bank of America raised their target price on shares of Occidental Petroleum from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 17th. Nine analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $88.00.

Shares of OXY stock opened at $70.27 on Friday. The company has a market cap of $53.06 billion, a P/E ratio of 78.96, a price-to-earnings-growth ratio of 2.27 and a beta of 0.80. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.21 and a current ratio of 1.33. Occidental Petroleum Co. has a 52-week low of $62.47 and a 52-week high of $87.67.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.26. The company had revenue of $6.18 billion for the quarter, compared to analyst estimates of $4.60 billion. Occidental Petroleum had a net margin of 22.19% and a return on equity of 15.43%. Occidental Petroleum’s revenue was up 98.9% compared to the same quarter last year. During the same period last year, the company posted $0.18 earnings per share. Sell-side analysts anticipate that Occidental Petroleum Co. will post 5.17 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 10th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.44%. The ex-dividend date is Friday, December 7th. Occidental Petroleum’s payout ratio is 350.56%.

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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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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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