FineMark National Bank & Trust reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 30.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,129 shares of the oil and gas producer’s stock after selling 6,086 shares during the quarter. FineMark National Bank & Trust’s holdings in Occidental Petroleum were worth $1,161,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sawtooth Solutions LLC grew its holdings in shares of Occidental Petroleum by 2.0% during the 2nd quarter. Sawtooth Solutions LLC now owns 34,912 shares of the oil and gas producer’s stock worth $2,922,000 after purchasing an additional 679 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in shares of Occidental Petroleum by 7.7% during the 2nd quarter. Wetherby Asset Management Inc. now owns 9,789 shares of the oil and gas producer’s stock worth $820,000 after buying an additional 703 shares during the last quarter. TCW Group Inc. lifted its position in shares of Occidental Petroleum by 3.4% during the 2nd quarter. TCW Group Inc. now owns 21,697 shares of the oil and gas producer’s stock worth $1,815,000 after buying an additional 705 shares during the last quarter. HighPoint Advisor Group LLC lifted its position in shares of Occidental Petroleum by 4.7% during the 3rd quarter. HighPoint Advisor Group LLC now owns 16,151 shares of the oil and gas producer’s stock worth $1,168,000 after buying an additional 721 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in shares of Occidental Petroleum by 0.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 98,708 shares of the oil and gas producer’s stock worth $8,260,000 after buying an additional 729 shares during the last quarter. 80.95% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the company. Mizuho restated a “buy” rating on shares of Occidental Petroleum in a research report on Tuesday, July 24th. JPMorgan Chase & Co. dropped their price objective on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, August 10th. Mitsubishi UFJ Financial Group dropped their price objective on Occidental Petroleum to $92.00 and set a “neutral” rating for the company in a research report on Tuesday, October 16th. Piper Jaffray Companies assumed coverage on Occidental Petroleum in a research report on Friday, September 28th. They set an “overweight” rating for the company. Finally, National Alliance Securities upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $83.75.
Occidental Petroleum stock opened at $73.34 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $52.24 billion, a price-to-earnings ratio of 82.40, a PEG ratio of 1.86 and a beta of 0.80. Occidental Petroleum Co. has a 12 month low of $62.47 and a 12 month high of $87.67.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Monday, November 5th. The oil and gas producer reported $1.77 EPS for the quarter, beating the consensus estimate of $1.51 by $0.26. The firm had revenue of $6.18 billion during the quarter, compared to the consensus estimate of $4.60 billion. Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. The business’s quarterly revenue was up 98.9% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. On average, research analysts anticipate that Occidental Petroleum Co. will post 5.11 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 10th will be given a $0.78 dividend. The ex-dividend date is Friday, December 7th. This represents a $3.12 annualized dividend and a yield of 4.25%. Occidental Petroleum’s dividend payout ratio is presently 350.56%.
In other news, Director William R. Klesse bought 5,000 shares of the company’s stock in a transaction on Monday, August 13th. The stock was purchased at an average cost of $78.55 per share, for a total transaction of $392,750.00. Following the completion of the transaction, the director now owns 77,963 shares of the company’s stock, valued at $6,123,993.65. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.
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Occidental Petroleum 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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