Raymond James & Associates grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 8.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,342,677 shares of the oil and gas producer’s stock after acquiring an additional 252,204 shares during the quarter. Raymond James & Associates owned about 0.44% of Occidental Petroleum worth $246,221,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Tompkins Financial Corp increased its stake in shares of Occidental Petroleum by 1.9% in the 4th quarter. Tompkins Financial Corp now owns 36,177 shares of the oil and gas producer’s stock worth $2,664,000 after acquiring an additional 661 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in shares of Occidental Petroleum by 3.8% during the 4th quarter. Koshinski Asset Management Inc. now owns 18,357 shares of the oil and gas producer’s stock worth $1,352,000 after purchasing an additional 679 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Occidental Petroleum by 25.2% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas producer’s stock worth $261,000 after purchasing an additional 714 shares during the period. Hermes Investment Management Ltd. grew its holdings in shares of Occidental Petroleum by 1.6% during the 4th quarter. Hermes Investment Management Ltd. now owns 45,172 shares of the oil and gas producer’s stock worth $3,327,000 after purchasing an additional 720 shares during the period. Finally, Lenox Wealth Management Inc. grew its holdings in shares of Occidental Petroleum by 7.0% during the 4th quarter. Lenox Wealth Management Inc. now owns 12,593 shares of the oil and gas producer’s stock worth $937,000 after purchasing an additional 824 shares during the period. 83.00% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on OXY. Mizuho set a $71.00 price target on Occidental Petroleum and gave the stock a “hold” rating in a report on Friday, November 24th. Scotiabank reiterated a “hold” rating and set a $64.00 price target on shares of Occidental Petroleum in a report on Wednesday, November 22nd. Barclays increased their price target on Occidental Petroleum from $45.00 to $47.00 and gave the stock an “underweight” rating in a report on Monday, November 20th. Morgan Stanley increased their price target on Occidental Petroleum from $66.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, Citigroup upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price target for the company in a report on Monday, January 22nd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $71.56.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, meeting analysts’ consensus estimates of $0.41. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the business posted ($0.13) EPS. equities analysts anticipate that Occidental Petroleum Co. will post 2.6 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend is Thursday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is 180.12%.
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About Occidental Petroleum
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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