Gamco Investors INC. ET AL grew its stake in Occidental Petroleum Co. (NYSE:OXY) by 15.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,763 shares of the oil and gas producer’s stock after acquiring an additional 6,200 shares during the period. Gamco Investors INC. ET AL’s holdings in Occidental Petroleum were worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in shares of Occidental Petroleum by 39.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 33,365,328 shares of the oil and gas producer’s stock worth $1,677,609,000 after acquiring an additional 9,386,180 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Occidental Petroleum by 24.6% in the second quarter. Macquarie Group Ltd. now owns 13,311,398 shares of the oil and gas producer’s stock worth $669,297,000 after acquiring an additional 2,630,424 shares during the last quarter. Morgan Stanley raised its stake in shares of Occidental Petroleum by 0.4% in the second quarter. Morgan Stanley now owns 8,002,841 shares of the oil and gas producer’s stock worth $402,383,000 after acquiring an additional 28,283 shares during the last quarter. Charles Schwab Investment Advisory Inc. raised its stake in shares of Occidental Petroleum by 86.7% in the second quarter. Charles Schwab Investment Advisory Inc. now owns 5,839,718 shares of the oil and gas producer’s stock worth $293,621,000 after acquiring an additional 2,712,579 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Occidental Petroleum by 12.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,215,304 shares of the oil and gas producer’s stock worth $211,946,000 after acquiring an additional 466,208 shares during the last quarter. 85.41% of the stock is owned by institutional investors.
OXY has been the subject of a number of research analyst reports. Raymond James dropped their target price on shares of Occidental Petroleum from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 17th. Piper Jaffray Companies set a $59.00 price target on shares of Occidental Petroleum and gave the stock a “buy” rating in a research report on Friday, August 16th. Susquehanna Bancshares initiated coverage on shares of Occidental Petroleum in a research report on Thursday, September 5th. They set a “positive” rating and a $55.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Occidental Petroleum in a research report on Friday, August 23rd. They set a “hold” rating and a $47.00 price target for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Occidental Petroleum in a research report on Tuesday, August 13th. They set an “underweight” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Occidental Petroleum presently has a consensus rating of “Hold” and a consensus target price of $60.23.
NYSE OXY traded up $1.07 during trading on Friday, reaching $40.10. 13,536,442 shares of the stock traded hands, compared to its average volume of 8,366,604. The firm has a market cap of $37.44 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. The stock’s 50-day moving average price is $42.48 and its 200 day moving average price is $48.31. The company has a quick ratio of 1.00, a current ratio of 1.33 and a debt-to-equity ratio of 1.54. Occidental Petroleum Co. has a fifty-two week low of $38.30 and a fifty-two week high of $74.29.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.30). The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.59 billion. Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 EPS. Analysts anticipate that Occidental Petroleum Co. will post 2.32 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 7.88%. The ex-dividend date of this dividend is Monday, December 9th. Occidental Petroleum’s dividend payout ratio is currently 63.07%.
In other news, Director William R. Klesse acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $45.54 per share, for a total transaction of $227,700.00. Following the completion of the acquisition, the director now owns 101,203 shares in the company, valued at $4,608,784.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Cedric W. Burgher acquired 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average price of $43.27 per share, with a total value of $108,175.00. Following the acquisition, the chief financial officer now owns 79,342 shares of the company’s stock, valued at approximately $3,433,128.34. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 23,500 shares of company stock valued at $1,039,775. Corporate insiders own 0.15% of the company’s stock.
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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