Daiwa Securities Group Inc. boosted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 31,482 shares of the oil and gas producer’s stock after acquiring an additional 3,068 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Occidental Petroleum were worth $2,586,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Standard Life Aberdeen plc lifted its position in Occidental Petroleum by 1,541.0% during the 2nd quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock worth $634,716,000 after acquiring an additional 7,122,373 shares during the period. FMR LLC lifted its holdings in shares of Occidental Petroleum by 232.5% in the 2nd quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock valued at $506,194,000 after buying an additional 4,230,065 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Occidental Petroleum by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,735,322 shares of the oil and gas producer’s stock valued at $479,928,000 after buying an additional 490,346 shares during the period. Levin Capital Strategies L.P. lifted its holdings in shares of Occidental Petroleum by 11.8% in the 3rd quarter. Levin Capital Strategies L.P. now owns 3,365,150 shares of the oil and gas producer’s stock valued at $276,514,000 after buying an additional 356,312 shares during the period. Finally, Charles Schwab Investment Advisory Inc. acquired a new position in shares of Occidental Petroleum in the 2nd quarter valued at about $241,052,000. 80.95% of the stock is owned by institutional investors.
Shares of Occidental Petroleum stock opened at $73.55 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.47. Occidental Petroleum Co. has a twelve month low of $62.47 and a twelve month high of $87.67. The stock has a market capitalization of $55.37 billion, a P/E ratio of 82.64, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.26. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The firm had revenue of $6.18 billion during the quarter, compared to analyst estimates of $4.60 billion. During the same quarter in the previous year, the business earned $0.18 EPS. Occidental Petroleum’s revenue for the quarter was up 98.9% compared to the same quarter last year. Analysts forecast that Occidental Petroleum Co. will post 5.12 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 10th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $3.12 annualized dividend and a dividend yield of 4.24%. Occidental Petroleum’s dividend payout ratio is presently 350.56%.
In other Occidental Petroleum 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, for a total transaction of $392,750.00. Following the purchase, the director now directly owns 77,963 shares in the company, valued at $6,123,993.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.
Several equities analysts have recently issued reports on OXY shares. Morgan Stanley set a $101.00 price objective on Occidental Petroleum and gave the company a “buy” rating in a report on Friday, October 12th. Piper Jaffray Companies started coverage on Occidental Petroleum in a report on Friday, September 28th. They issued an “overweight” rating for the company. Raymond James raised Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating for the company in a report on Friday, August 10th. Finally, Edward Jones raised Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $84.00.
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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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