Daiwa Securities Group Inc. lifted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,482 shares of the oil and gas producer’s stock after purchasing an additional 3,068 shares during the period. Daiwa Securities Group Inc.’s holdings in Occidental Petroleum were worth $2,586,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in Occidental Petroleum by 3,077.0% in the second quarter. Fisher Asset Management LLC now owns 185,567 shares of the oil and gas producer’s stock valued at $15,528,000 after acquiring an additional 179,726 shares during the last quarter. Guardian Investment Management acquired a new position in Occidental Petroleum in the second quarter valued at approximately $1,017,000. Stokes Capital Advisors LLC acquired a new position in Occidental Petroleum in the second quarter valued at approximately $209,000. Stillwater Capital Advisors LLC acquired a new position in Occidental Petroleum in the second quarter valued at approximately $8,811,000. Finally, Reliance Trust Co. of Delaware lifted its holdings in Occidental Petroleum by 14.1% in the second quarter. Reliance Trust Co. of Delaware now owns 6,897 shares of the oil and gas producer’s stock valued at $577,000 after acquiring an additional 851 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.
In other news, Director William R. Klesse purchased 5,000 shares of the firm’s stock in a transaction on Monday, August 13th. The shares were bought at an average cost of $78.55 per share, for a total transaction of $392,750.00. Following the completion of the purchase, the director now directly owns 77,963 shares of the company’s stock, valued at $6,123,993.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is owned by corporate insiders.
NYSE:OXY opened at $73.55 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.19 and a current ratio of 1.33. Occidental Petroleum Co. has a 52 week low of $62.47 and a 52 week high of $87.67. The firm has a market cap of $55.37 billion, a price-to-earnings ratio of 82.64, a PEG ratio of 2.01 and a beta of 0.80.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.26. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The company had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $4.60 billion. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue was up 98.9% compared to the same quarter last year. As a group, analysts anticipate that Occidental Petroleum Co. will post 5.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 10th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Friday, December 7th. Occidental Petroleum’s dividend payout ratio (DPR) is 350.56%.
A number of research firms recently commented on OXY. Mizuho reiterated a “buy” rating on shares of Occidental Petroleum in a report on Tuesday, July 24th. Piper Jaffray Companies began coverage on Occidental Petroleum in a report on Friday, September 28th. They issued an “overweight” rating on the stock. ValuEngine cut Occidental Petroleum from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Wednesday, October 10th. Finally, National Alliance Securities upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Monday, August 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $84.00.
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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