Shell Asset Management Co. grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 39.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 270,156 shares of the oil and gas producer’s stock after acquiring an additional 76,215 shares during the quarter. Shell Asset Management Co.’s holdings in Occidental Petroleum were worth $19,900,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Barometer Capital Management Inc. acquired a new stake in shares of Occidental Petroleum in the third quarter valued at $12,213,000. California Public Employees Retirement System lifted its holdings in shares of Occidental Petroleum by 3.3% in the third quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock valued at $131,456,000 after buying an additional 64,533 shares during the period. Stoneridge Investment Partners LLC acquired a new stake in shares of Occidental Petroleum in the fourth quarter valued at $355,000. Swiss National Bank lifted its holdings in shares of Occidental Petroleum by 0.9% in the third quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock valued at $185,698,000 after buying an additional 25,100 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Occidental Petroleum in the third quarter valued at $3,792,000. Institutional investors own 79.98% of the company’s stock.
Several analysts have recently weighed in on OXY shares. Goldman Sachs Group upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Credit Suisse Group started coverage on Occidental Petroleum in a report on Monday, December 11th. They issued a “neutral” rating and a $62.00 price objective for the company. Citigroup upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective for the company in a report on Monday, January 22nd. Jefferies Group upped their target price on Occidental Petroleum from $62.00 to $66.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Finally, Macquarie began coverage on Occidental Petroleum in a report on Wednesday, January 17th. They set a “neutral” rating for the company. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $70.60.
Occidental Petroleum Co. (NYSE OXY) opened at $68.16 on Friday. The firm has a market capitalization of $53,130.98, a price-to-earnings ratio of 39.86, a P/E/G ratio of 4.30 and a beta of 0.53. Occidental Petroleum Co. has a 52-week low of $57.20 and a 52-week high of $78.09. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.54 billion. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. During the same period in the previous year, the firm earned ($0.13) earnings per share. equities analysts predict that Occidental Petroleum Co. will post 2.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.52%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s payout ratio is 180.12%.
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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