HM Payson & Co. lessened its stake in shares of Occidental Petroleum (NYSE:OXY) by 12.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 28,567 shares of the oil and gas producer’s stock after selling 4,063 shares during the quarter. HM Payson & Co.’s holdings in Occidental Petroleum were worth $1,856,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Occidental Petroleum by 1.7% during the 1st quarter. BlackRock Inc. now owns 51,336,909 shares of the oil and gas producer’s stock valued at $3,334,846,000 after buying an additional 857,046 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Occidental Petroleum by 21.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock valued at $1,418,851,000 after buying an additional 3,366,402 shares during the period. Bank of New York Mellon Corp raised its holdings in Occidental Petroleum by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 13,863,294 shares of the oil and gas producer’s stock valued at $1,021,169,000 after buying an additional 345,382 shares during the period. Franklin Resources Inc. raised its holdings in Occidental Petroleum by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 13,764,887 shares of the oil and gas producer’s stock valued at $1,013,921,000 after buying an additional 41,765 shares during the period. Finally, Epoch Investment Partners Inc. raised its holdings in Occidental Petroleum by 0.4% during the 1st quarter. Epoch Investment Partners Inc. now owns 9,777,039 shares of the oil and gas producer’s stock valued at $635,116,000 after buying an additional 35,684 shares during the period. Institutional investors own 80.74% of the company’s stock.
Occidental Petroleum opened at $86.46 on Thursday, according to MarketBeat.com. Occidental Petroleum has a 12-month low of $57.84 and a 12-month high of $87.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.26. The firm has a market cap of $65.48 billion, a PE ratio of 97.15, a PEG ratio of 3.21 and a beta of 0.62.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.21. Occidental Petroleum had a return on equity of 6.15% and a net margin of 13.47%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the company earned $0.15 EPS. The business’s revenue was up 28.4% compared to the same quarter last year. equities analysts expect that Occidental Petroleum will post 4.1 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Monday, June 11th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Friday, June 8th. Occidental Petroleum’s payout ratio is 346.07%.
OXY has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on Occidental Petroleum from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, April 9th. Piper Jaffray Companies upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $77.00 to $86.00 in a research note on Sunday, April 15th. UBS Group started coverage on Occidental Petroleum in a research note on Wednesday, March 7th. They issued a “neutral” rating and a $71.00 target price on the stock. Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research note on Monday, May 14th. Finally, Citigroup upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Occidental Petroleum presently has an average rating of “Hold” and an average price target of $77.47.
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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