FDx Advisors Inc. decreased its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 4.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,321 shares of the oil and gas producer’s stock after selling 1,623 shares during the period. FDx Advisors Inc.’s holdings in Occidental Petroleum were worth $1,776,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of OXY. Nachman Norwood & Parrott Inc grew its holdings in shares of Occidental Petroleum by 0.6% in the first quarter. Nachman Norwood & Parrott Inc now owns 25,427 shares of the oil and gas producer’s stock worth $1,683,000 after purchasing an additional 160 shares during the last quarter. Essex Savings Bank grew its holdings in shares of Occidental Petroleum by 16.8% in the first quarter. Essex Savings Bank now owns 1,216 shares of the oil and gas producer’s stock worth $80,000 after purchasing an additional 175 shares during the last quarter. OLD Second National Bank of Aurora grew its holdings in shares of Occidental Petroleum by 0.3% in the first quarter. OLD Second National Bank of Aurora now owns 54,908 shares of the oil and gas producer’s stock worth $3,635,000 after purchasing an additional 178 shares during the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of Occidental Petroleum by 1.1% in the first quarter. Wetherby Asset Management Inc. now owns 16,215 shares of the oil and gas producer’s stock worth $1,074,000 after purchasing an additional 182 shares during the last quarter. Finally, CX Institutional grew its holdings in shares of Occidental Petroleum by 1.8% in the first quarter. CX Institutional now owns 10,505 shares of the oil and gas producer’s stock worth $695,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 81.72% of the company’s stock.
A number of research firms have recently commented on OXY. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. Wolfe Research cut shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and cut their price target for the stock from $85.00 to $65.00 in a report on Monday, May 13th. Royal Bank of Canada set a €86.00 ($100.00) price target on shares of Henkel AG & Co KGaA and gave the stock a “neutral” rating in a report on Tuesday, May 7th. Raymond James restated an “average” rating and issued a $0.75 price target on shares of in a report on Thursday, May 23rd. Finally, TheStreet cut shares of WESCO International from a “b-” rating to a “c+” rating in a report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $74.30.
Shares of OXY stock traded down $0.67 during mid-day trading on Tuesday, hitting $51.84. 204,839 shares of the stock traded hands, compared to its average volume of 6,978,777. The stock has a market capitalization of $38.85 billion, a PE ratio of 10.35, a P/E/G ratio of 3.03 and a beta of 0.83. The stock’s fifty day moving average price is $49.99. Occidental Petroleum Co. has a 52-week low of $47.00 and a 52-week high of $84.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.23.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 earnings per share. As a group, sell-side analysts expect that Occidental Petroleum Co. will post 3.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 6.10%. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.78. The ex-dividend date is Monday, September 9th. Occidental Petroleum’s dividend payout ratio is presently 62.28%.
In related news, SVP Marcia E. Backus acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of $48.09 per share, with a total value of $480,900.00. Following the transaction, the senior vice president now directly owns 101,248 shares of the company’s stock, valued at approximately $4,869,016.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vicki A. Hollub acquired 37,460 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was bought at an average cost of $48.15 per share, with a total value of $1,803,699.00. Following the completion of the transaction, the insider now directly owns 248,326 shares in the company, valued at $11,956,896.90. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 80,660 shares of company stock valued at $3,893,851. Insiders own 0.15% of the company’s stock.
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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