Occidental Petroleum Co. (OXY) is Mitchell Group Inc.’s 10th Largest Position

Mitchell Group Inc. lowered its position in Occidental Petroleum Co. (NYSE:OXY) by 4.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 251,766 shares of the oil and gas producer’s stock after selling 10,717 shares during the quarter. Occidental Petroleum makes up 3.9% of Mitchell Group Inc.’s investment portfolio, making the stock its 10th biggest position. Mitchell Group Inc.’s holdings in Occidental Petroleum were worth $20,688,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Westbourne Investment Advisors Inc. acquired a new position in Occidental Petroleum in the 3rd quarter worth $138,000. Kaizen Advisory LLC lifted its holdings in Occidental Petroleum by 142.0% in the 2nd quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock worth $150,000 after buying an additional 1,052 shares in the last quarter. GeoSphere Capital Management LLC acquired a new position in Occidental Petroleum in the 2nd quarter worth $151,000. Spectrum Management Group Inc. acquired a new position in Occidental Petroleum in the 2nd quarter worth $160,000. Finally, Smithfield Trust Co. lifted its holdings in Occidental Petroleum by 367.1% in the 2nd quarter. Smithfield Trust Co. now owns 1,971 shares of the oil and gas producer’s stock worth $164,000 after buying an additional 1,549 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

A number of equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Occidental Petroleum in a report on Thursday, July 12th. They issued an “overweight” rating and a $100.00 price objective on the stock. Mizuho restated a “buy” rating on shares of Occidental Petroleum in a research note on Tuesday, July 24th. Piper Jaffray Companies assumed coverage on shares of Occidental Petroleum in a research note on Friday, September 28th. They issued an “overweight” rating on the stock. ValuEngine lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Finally, Zacks Investment Research upgraded 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 note on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Occidental Petroleum presently has an average rating of “Buy” and an average price target of $84.06.

In other Occidental Petroleum news, Director William R. Klesse acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average price of $78.55 per share, for a total transaction of $392,750.00. Following the completion of the purchase, the director now directly owns 77,963 shares in the company, valued at $6,123,993.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by corporate insiders.

Shares of Occidental Petroleum stock traded up $0.44 during trading on Tuesday, reaching $66.90. The company had a trading volume of 168,035 shares, compared to its average volume of 5,282,378. The firm has a market cap of $51.93 billion, a PE ratio of 74.92, a price-to-earnings-growth ratio of 1.85 and a beta of 0.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.36. Occidental Petroleum Co. has a fifty-two week low of $62.47 and a fifty-two week high of $87.67.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.11). The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.13 billion. Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. Occidental Petroleum’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, equities analysts predict that Occidental Petroleum Co. will post 5.11 earnings per share for the current 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 paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, December 7th. This represents a $3.12 annualized dividend and a yield of 4.66%. Occidental Petroleum’s dividend payout ratio (DPR) is 350.56%.

About Occidental Petroleum

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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