AE Wealth Management LLC lessened its position in Occidental Petroleum Co. (NYSE:OXY) by 46.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,572 shares of the oil and gas producer’s stock after selling 11,793 shares during the quarter. AE Wealth Management LLC’s holdings in Occidental Petroleum were worth $1,136,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OXY. Standard Life Aberdeen plc lifted its position in shares of Occidental Petroleum by 1,541.0% in the second quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock valued at $634,716,000 after acquiring an additional 7,122,373 shares in the last quarter. FMR LLC lifted its position in shares of Occidental Petroleum by 232.5% in the second quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock valued at $506,194,000 after acquiring an additional 4,230,065 shares in the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Occidental Petroleum in the second quarter valued at approximately $241,052,000. AGF Investments Inc. purchased a new position in shares of Occidental Petroleum in the second quarter valued at approximately $93,394,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Occidental Petroleum by 172.0% in the first quarter. PNC Financial Services Group Inc. now owns 1,722,476 shares of the oil and gas producer’s stock valued at $111,893,000 after acquiring an additional 1,089,145 shares in the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.
In related news, Director William R. Klesse purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was purchased at an average price of $78.55 per share, with a total value of $392,750.00. Following the completion of the acquisition, the director now owns 77,963 shares in the company, valued at $6,123,993.65. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by company insiders.
NYSE:OXY opened at $76.64 on Friday. Occidental Petroleum Co. has a one year low of $61.09 and a one year high of $87.67. 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 company has a market capitalization of $58.98 billion, a P/E ratio of 86.11, a P/E/G ratio of 2.64 and a beta of 0.61.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.11). Occidental Petroleum had a net margin of 15.36% and a return on equity of 9.68%. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the business posted $0.15 EPS. Occidental Petroleum’s revenue for the quarter was up 14.7% compared to the same quarter last year. equities research analysts anticipate that Occidental Petroleum Co. will post 4.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 10th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, September 7th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.77. Occidental Petroleum’s dividend payout ratio (DPR) is currently 350.56%.
Several equities analysts have 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. decreased their target price on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, August 10th. Scotiabank upgraded Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a research report on Monday, May 21st. Jefferies Financial Group upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and raised their target price for the company from $87.00 to $98.00 in a research report on Monday, June 11th. Finally, National Alliance Securities upgraded Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $83.60.
About Occidental Petroleum
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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