Wedbush Securities Inc. increased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 97.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,084 shares of the oil and gas producer’s stock after purchasing an additional 7,426 shares during the period. Wedbush Securities Inc.’s holdings in Occidental Petroleum were worth $999,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Shelton Capital Management lifted its holdings in shares of Occidental Petroleum by 1.8% during the 4th quarter. Shelton Capital Management now owns 8,646 shares of the oil and gas producer’s stock valued at $531,000 after purchasing an additional 152 shares in the last quarter. Taylor Hoffman Wealth Management lifted its stake in Occidental Petroleum by 2.3% in the 4th quarter. Taylor Hoffman Wealth Management now owns 6,647 shares of the oil and gas producer’s stock valued at $412,000 after acquiring an additional 152 shares in the last quarter. Nachman Norwood & Parrott Inc lifted its stake in Occidental Petroleum by 0.6% in the 1st quarter. Nachman Norwood & Parrott Inc now owns 25,427 shares of the oil and gas producer’s stock valued at $1,683,000 after acquiring an additional 160 shares in the last quarter. CX Institutional lifted its stake in Occidental Petroleum by 1.8% in the 1st quarter. CX Institutional now owns 10,505 shares of the oil and gas producer’s stock valued at $695,000 after acquiring an additional 183 shares in the last quarter. Finally, Sun Life Financial INC lifted its stake in Occidental Petroleum by 1.1% in the 4th quarter. Sun Life Financial INC now owns 17,886 shares of the oil and gas producer’s stock valued at $1,098,000 after acquiring an additional 187 shares in the last quarter. Institutional investors and hedge funds own 84.34% of the company’s stock.
Several equities research analysts have commented on the company. ValuEngine upgraded Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Zacks Investment Research upgraded Occidental Petroleum from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Citigroup cut Occidental Petroleum from a “buy” rating to a “neutral” rating and cut their target price for the company from $80.00 to $72.00 in a research note on Tuesday, February 19th. Oppenheimer assumed coverage on Occidental Petroleum in a research note on Wednesday, March 27th. They issued a “market perform” rating on the stock. Finally, Mizuho restated a “buy” rating and issued a $82.00 target price on shares of Occidental Petroleum in a research note on Wednesday, February 13th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum presently has an average rating of “Buy” and an average price target of $83.80.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.10. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.39 billion. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. The business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. Research analysts forecast that Occidental Petroleum Co. will post 3.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 11th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Friday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is 62.28%.
Occidental Petroleum 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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