KG&L Capital Management LLC grew its position in Occidental Petroleum Co. (NYSE:OXY) by 68.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,843 shares of the oil and gas producer’s stock after purchasing an additional 7,232 shares during the period. Occidental Petroleum comprises approximately 1.2% of KG&L Capital Management LLC’s holdings, making the stock its 22nd biggest holding. KG&L Capital Management LLC’s holdings in Occidental Petroleum were worth $1,180,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Country Trust Bank lifted its position in Occidental Petroleum by 434.6% during the 4th quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 339 shares in the last quarter. We Are One Seven LLC acquired a new position in Occidental Petroleum during the 4th quarter worth about $25,000. Pinnacle Bank acquired a new position in Occidental Petroleum during the 4th quarter worth about $28,000. Heritage Trust Co lifted its position in Occidental Petroleum by 496.2% during the 4th quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 387 shares in the last quarter. Finally, Harvest Group Wealth Management LLC acquired a new position in Occidental Petroleum during the 1st quarter worth about $34,000. Institutional investors own 84.05% of the company’s stock.
Shares of NYSE:OXY opened at $53.96 on Thursday. The stock has a market cap of $40.51 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 2.83 and a beta of 0.76. Occidental Petroleum Co. has a 1-year low of $53.12 and a 1-year high of $87.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.23 and a quick ratio of 1.03.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 EPS. As a group, sell-side analysts expect that Occidental Petroleum Co. will post 3.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.12 annualized dividend and a yield of 5.78%. Occidental Petroleum’s dividend payout ratio is currently 62.28%.
Several research analysts recently issued reports on OXY shares. Zacks Investment Research downgraded shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. KeyCorp downgraded shares of Occidental Petroleum from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, April 24th. Morgan Stanley set a $72.00 price target on shares of Occidental Petroleum and gave the stock a “buy” rating in a research report on Thursday, February 14th. Barclays downgraded shares of Occidental Petroleum from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $77.00 to $70.00 in a research report on Friday, February 15th. Finally, Mizuho downgraded shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $83.00 to $70.00 in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum has an average rating of “Hold” and a consensus price target of $77.66.
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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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