B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund grew its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 257.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,413 shares of the oil and gas producer’s stock after acquiring an additional 8,943 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Occidental Petroleum were worth $1,039,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Argent Trust Co acquired a new position in shares of Occidental Petroleum in the 4th quarter valued at about $201,000. Wells Fargo & Company MN boosted its holdings in shares of Occidental Petroleum by 1.8% in the 1st quarter. Wells Fargo & Company MN now owns 3,549,966 shares of the oil and gas producer’s stock valued at $230,605,000 after buying an additional 61,098 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Occidental Petroleum by 1,853.1% in the 1st quarter. Victory Capital Management Inc. now owns 238,666 shares of the oil and gas producer’s stock valued at $15,504,000 after buying an additional 226,446 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of Occidental Petroleum in the 1st quarter valued at about $332,000. Finally, Chicago Equity Partners LLC boosted its holdings in shares of Occidental Petroleum by 645.0% in the 1st quarter. Chicago Equity Partners LLC now owns 21,120 shares of the oil and gas producer’s stock valued at $1,372,000 after buying an additional 18,285 shares during the period. 80.42% of the stock is owned by institutional investors.
In other news, Director William R. Klesse acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were purchased at an average cost of $78.55 per share, for a total transaction of $392,750.00. Following the transaction, the director now directly owns 77,963 shares in the company, valued at approximately $6,123,993.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.32% of the company’s stock.
Several research firms have recently commented on OXY. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a report on Monday, May 21st. National Alliance Securities raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Mizuho began coverage on shares of Occidental Petroleum in a report on Friday, June 8th. They issued a “buy” rating and a $102.00 price target for the company. Citigroup raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Tuesday, June 5th. Finally, Capital One Financial raised shares of Occidental Petroleum from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $83.60.
Shares of NYSE:OXY opened at $76.64 on Friday. The stock has a market capitalization of $58.98 billion, a P/E ratio of 86.11, a PEG ratio of 2.64 and a beta of 0.61. Occidental Petroleum Co. has a fifty-two week low of $61.09 and a fifty-two week high of $87.67. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.36.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.11). The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.13 billion. Occidental Petroleum had a net margin of 15.36% and a return on equity of 9.68%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 earnings per share. research analysts expect that Occidental Petroleum Co. will post 4.84 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 10th will be given a $0.78 dividend. The ex-dividend date is Friday, September 7th. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.77. This represents a $3.12 annualized dividend and a yield of 4.07%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 350.56%.
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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