Bourgeon Capital Management LLC lessened its position in Occidental Petroleum Corporation (NYSE:OXY) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,525 shares of the oil and gas producer’s stock after selling 1,600 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Occidental Petroleum Corporation were worth $2,088,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Grove Bank & Trust raised its holdings in shares of Occidental Petroleum Corporation by 54.8% in the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 622 shares during the period. Oakworth Capital Inc. raised its holdings in shares of Occidental Petroleum Corporation by 14.7% in the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after buying an additional 250 shares during the period. Parallel Advisors LLC raised its holdings in shares of Occidental Petroleum Corporation by 15.6% in the 1st quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock valued at $118,000 after buying an additional 264 shares during the period. FNY Partners Fund LP purchased a new stake in shares of Occidental Petroleum Corporation in the 1st quarter valued at $126,000. Finally, Fis Group Inc. purchased a new stake in shares of Occidental Petroleum Corporation in the 3rd quarter valued at $126,000. Hedge funds and other institutional investors own 80.67% of the company’s stock.
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Several equities research analysts recently issued reports on the company. Cowen and Company reiterated a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum Corporation in a report on Thursday, September 28th. Morgan Stanley boosted their target price on Occidental Petroleum Corporation from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. BMO Capital Markets set a $60.00 target price on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Barclays PLC boosted their target price on Occidental Petroleum Corporation from $38.00 to $40.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 11th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $58.00 target price on shares of Occidental Petroleum Corporation in a research note on Friday, October 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $65.73.
Shares of Occidental Petroleum Corporation (NYSE:OXY) traded up 1.649% during mid-day trading on Wednesday, hitting $65.635. The company had a trading volume of 941,965 shares. The stock’s 50-day moving average is $63.97 and its 200-day moving average is $61.44. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $73.51. The stock has a market cap of $50.18 billion, a price-to-earnings ratio of 462.218 and a beta of 0.67.
Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3 billion. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The company’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.18) earnings per share. Equities analysts forecast that Occidental Petroleum Corporation will post $0.67 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be paid a $0.77 dividend. The ex-dividend date is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.77%. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,369.23%.
In other news, Director William R. Klesse purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the purchase, the director now owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by company insiders.
Occidental Petroleum Corporation 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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