Mutual Advisors LLC grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 11.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 6,874 shares of the oil and gas producer’s stock after acquiring an additional 724 shares during the period. Mutual Advisors LLC’s holdings in Occidental Petroleum were worth $306,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Fernwood Investment Management LLC increased its holdings in Occidental Petroleum by 3.0% in the 2nd quarter. Fernwood Investment Management LLC now owns 6,810 shares of the oil and gas producer’s stock worth $342,000 after buying an additional 200 shares in the last quarter. Griffin Asset Management Inc. increased its holdings in Occidental Petroleum by 2.7% in the 2nd quarter. Griffin Asset Management Inc. now owns 8,440 shares of the oil and gas producer’s stock worth $424,000 after buying an additional 225 shares in the last quarter. Liberty Wealth Management LLC increased its holdings in Occidental Petroleum by 36.4% in the 3rd quarter. Liberty Wealth Management LLC now owns 907 shares of the oil and gas producer’s stock worth $40,000 after buying an additional 242 shares in the last quarter. CENTRAL TRUST Co increased its holdings in Occidental Petroleum by 1.0% in the 2nd quarter. CENTRAL TRUST Co now owns 25,206 shares of the oil and gas producer’s stock worth $1,272,000 after buying an additional 250 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its holdings in Occidental Petroleum by 5.0% in the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 5,380 shares of the oil and gas producer’s stock worth $239,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 85.41% of the company’s stock.
In related news, insider Kenneth Dillon acquired 5,000 shares of the stock in a transaction dated Friday, August 16th. The shares were purchased at an average cost of $44.57 per share, with a total value of $222,850.00. Following the transaction, the insider now directly owns 108,536 shares in the company, valued at $4,837,449.52. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Cedric W. Burgher acquired 2,500 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $43.27 per share, for a total transaction of $108,175.00. Following the completion of the transaction, the chief financial officer now owns 79,342 shares in the company, valued at $3,433,128.34. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 23,500 shares of company stock worth $1,039,775. Insiders own 0.15% of the company’s stock.
NYSE:OXY traded up $1.07 on Friday, hitting $40.10. The stock had a trading volume of 13,536,442 shares, compared to its average volume of 8,366,604. Occidental Petroleum Co. has a 52-week low of $38.30 and a 52-week high of $74.29. The company has a quick ratio of 1.00, a current ratio of 1.33 and a debt-to-equity ratio of 1.54. The stock has a market cap of $37.44 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. The business’s 50-day simple moving average is $42.48 and its two-hundred day simple moving average is $48.31.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.30). Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same period in the previous year, the firm earned $1.77 earnings per share. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. As a group, equities research analysts anticipate that Occidental Petroleum Co. will post 2.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be given a dividend of $0.79 per share. The ex-dividend date is Monday, December 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.88%. Occidental Petroleum’s payout ratio is currently 63.07%.
OXY has been the subject of several research analyst reports. Piper Jaffray Companies set a $59.00 price objective on Occidental Petroleum and gave the stock a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. initiated coverage on Occidental Petroleum in a research report on Tuesday, August 13th. They issued an “underweight” rating and a $50.00 target price on the stock. Goldman Sachs Group initiated coverage on Occidental Petroleum in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $52.50 target price on the stock. Zacks Investment Research raised Occidental Petroleum from a “strong sell” rating to a “hold” rating and set a $34.00 target price on the stock in a research report on Tuesday, October 15th. Finally, SunTrust Banks initiated coverage on Occidental Petroleum in a research report on Monday, September 23rd. They issued a “hold” rating and a $48.00 target price on the stock. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $60.23.
Occidental Petroleum Company Profile
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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