Park National Corp OH lifted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 13.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,930 shares of the oil and gas producer’s stock after buying an additional 3,657 shares during the quarter. Park National Corp OH’s holdings in Occidental Petroleum were worth $2,048,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in OXY. UBS Oconnor LLC acquired a new stake in Occidental Petroleum in the fourth quarter worth about $4,604,000. American Trust Investment Advisors LLC acquired a new stake in Occidental Petroleum in the fourth quarter worth about $2,435,000. Gradient Investments LLC increased its position in Occidental Petroleum by 1,754.1% in the fourth quarter. Gradient Investments LLC now owns 129,026 shares of the oil and gas producer’s stock worth $7,920,000 after purchasing an additional 122,067 shares during the period. United Capital Management of KS Inc. increased its position in Occidental Petroleum by 19.7% in the fourth quarter. United Capital Management of KS Inc. now owns 3,630 shares of the oil and gas producer’s stock worth $223,000 after purchasing an additional 597 shares during the period. Finally, IndexIQ Advisors LLC increased its position in Occidental Petroleum by 67.4% in the third quarter. IndexIQ Advisors LLC now owns 8,424 shares of the oil and gas producer’s stock worth $692,000 after purchasing an additional 3,391 shares during the period. 84.13% of the stock is owned by institutional investors and hedge funds.
Occidental Petroleum stock opened at $67.22 on Tuesday. The stock has a market cap of $50.24 billion, a PE ratio of 13.42, a P/E/G ratio of 1.37 and a beta of 0.83. Occidental Petroleum Co. has a 1 year low of $56.83 and a 1 year high of $87.67. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.34 and a quick ratio of 1.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, March 11th will be given a $0.78 dividend. The ex-dividend date is Friday, March 8th. This represents a $3.12 annualized dividend and a dividend yield of 4.64%. Occidental Petroleum’s dividend payout ratio is presently 62.28%.
A number of analysts recently commented on the company. Oppenheimer assumed coverage on Occidental Petroleum in a research report on Wednesday, March 27th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded Occidental Petroleum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 5th. ValuEngine upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Citigroup lowered Occidental Petroleum from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $80.00 to $72.00 in a research report on Tuesday, February 19th. Finally, Barclays lowered Occidental Petroleum from an “overweight” rating to an “underweight” rating and lowered their price objective for the stock from $77.00 to $70.00 in a research report on Friday, February 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $84.56.
Occidental Petroleum Company Profile
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.
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