King Luther Capital Management Corp Acquires 125,460 Shares of Occidental Petroleum Corporation (OXY)

King Luther Capital Management Corp grew its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 12.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,106,553 shares of the oil and gas producer’s stock after acquiring an additional 125,460 shares during the quarter. King Luther Capital Management Corp owned 0.14% of Occidental Petroleum worth $71,052,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sowell Financial Services LLC lifted its position in Occidental Petroleum by 1.7% during the first quarter. Sowell Financial Services LLC now owns 8,381 shares of the oil and gas producer’s stock worth $513,000 after purchasing an additional 142 shares during the period. Seaward Management Limited Partnership lifted its position in Occidental Petroleum by 2.7% during the first quarter. Seaward Management Limited Partnership now owns 277,285 shares of the oil and gas producer’s stock worth $17,568,000 after purchasing an additional 7,298 shares during the period. TrueNorth Inc. lifted its position in Occidental Petroleum by 30.9% during the first quarter. TrueNorth Inc. now owns 9,270 shares of the oil and gas producer’s stock worth $587,000 after purchasing an additional 2,186 shares during the period. Nuveen Asset Management LLC lifted its position in Occidental Petroleum by 62.3% during the first quarter. Nuveen Asset Management LLC now owns 532,224 shares of the oil and gas producer’s stock worth $33,722,000 after purchasing an additional 204,361 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in Occidental Petroleum by 1.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 102,827 shares of the oil and gas producer’s stock worth $6,516,000 after purchasing an additional 1,946 shares during the period. 80.34% of the stock is owned by institutional investors.

OXY has been the subject of several research analyst reports. Cowen reissued a “buy” rating and set a $80.00 target price on shares of Occidental Petroleum in a research note on Thursday, September 28th. Bank of America boosted their target price on Occidental Petroleum from $70.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Goldman Sachs Group raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Morgan Stanley boosted their target price on Occidental Petroleum from $62.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 18th. Finally, Jefferies Group boosted their target price on Occidental Petroleum from $62.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $67.27.

Shares of Occidental Petroleum Corporation (NYSE:OXY) traded down $0.18 during mid-day trading on Tuesday, reaching $70.06. The company had a trading volume of 3,678,100 shares, compared to its average volume of 4,519,645. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $73.51. The company has a market capitalization of $53,610.00, a PE ratio of 200.69, a PEG ratio of 14.25 and a beta of 0.65. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95.

Occidental Petroleum (NYSE:OXY) last announced its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the business posted ($0.15) earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. sell-side analysts predict that Occidental Petroleum Corporation will post 0.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.40%. The ex-dividend date is Friday, December 8th. Occidental Petroleum’s payout ratio is presently 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.

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

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