Barrow Hanley Mewhinney & Strauss LLC decreased its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,895,757 shares of the oil and gas producer’s stock after selling 508,739 shares during the quarter. Occidental Petroleum makes up 1.5% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its 29th largest position. Barrow Hanley Mewhinney & Strauss LLC owned 2.08% of Occidental Petroleum worth $1,020,667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Barometer Capital Management Inc. bought a new stake in Occidental Petroleum during the 3rd quarter valued at about $12,213,000. BP PLC bought a new stake in Occidental Petroleum during the 2nd quarter valued at about $5,210,000. Federated Investors Inc. PA lifted its holdings in Occidental Petroleum by 18.0% during the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after buying an additional 1,152,152 shares in the last quarter. BB&T Securities LLC lifted its holdings in Occidental Petroleum by 71.1% during the 2nd quarter. BB&T Securities LLC now owns 452,611 shares of the oil and gas producer’s stock valued at $27,097,000 after buying an additional 188,009 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in Occidental Petroleum by 72.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 847,287 shares of the oil and gas producer’s stock valued at $50,831,000 after buying an additional 356,351 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.
Shares of Occidental Petroleum Corporation (NYSE OXY) traded up $0.58 during trading on Friday, hitting $70.55. 5,522,500 shares of the stock were exchanged, compared to its average volume of 4,500,105. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.11. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $73.51. The stock has a market cap of $53,544.22, a P/E ratio of 199.91, a P/E/G ratio of 14.09 and a beta of 0.65.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm earned ($0.15) EPS. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. equities research analysts expect that Occidental Petroleum Corporation will post 0.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Friday, December 8th. Occidental Petroleum’s payout ratio is currently 440.00%.
Several research firms have recently commented on OXY. Piper Jaffray Companies set a $55.00 price target on shares of Occidental Petroleum and gave the company a “hold” rating in a report on Friday, August 25th. Barclays boosted their price target on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company an “underweight” rating in a report on Monday, November 20th. Scotiabank restated a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum in a report on Wednesday, November 22nd. Mizuho set a $71.00 price target on shares of Occidental Petroleum and gave the company a “hold” rating in a report on Friday, November 24th. Finally, ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $66.07.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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