Cramer Rosenthal Mcglynn LLC reduced its position in Occidental Petroleum Co. (NYSE:OXY) by 63.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 249,370 shares of the oil and gas producer’s stock after selling 438,450 shares during the period. Cramer Rosenthal Mcglynn LLC’s holdings in Occidental Petroleum were worth $18,369,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of OXY. Dupont Capital Management Corp acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $378,000. California Public Employees Retirement System raised its stake in shares of Occidental Petroleum by 3.3% in the 3rd 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 purchasing an additional 64,533 shares in the last quarter. Synovus Financial Corp raised its stake in shares of Occidental Petroleum by 15.5% in the 4th quarter. Synovus Financial Corp now owns 9,157 shares of the oil and gas producer’s stock valued at $673,000 after purchasing an additional 1,232 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $355,000. Finally, Taylor Hoffman Wealth Management acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $261,000. 83.00% of the stock is owned by institutional investors.
Shares of Occidental Petroleum Co. (OXY) opened at $64.20 on Wednesday. The firm has a market cap of $48,885.35, a PE ratio of 37.54, a P/E/G ratio of 3.78 and a beta of 0.64. Occidental Petroleum Co. has a 12 month low of $57.20 and a 12 month high of $78.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.95 and a current ratio of 1.12.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, hitting 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 net margin of 9.88% and a return on equity of 3.29%. During the same quarter in the prior year, the business earned ($0.13) earnings per share. analysts expect that Occidental Petroleum Co. will post 2.6 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be paid a dividend of $0.77 per share. The ex-dividend date is Thursday, March 8th. This represents a $3.08 annualized dividend and a yield of 4.80%. Occidental Petroleum’s dividend payout ratio (DPR) is 180.12%.
A number of equities research analysts have recently issued reports on OXY shares. Goldman Sachs Group upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Credit Suisse Group started coverage on shares of Occidental Petroleum in a research note on Monday, December 11th. They issued a “neutral” rating and a $62.00 target price on the stock. Citigroup upgraded shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 target price on the stock in a research note on Monday, January 22nd. Macquarie started coverage on shares of Occidental Petroleum in a research note on Wednesday, January 17th. They issued a “neutral” rating on the stock. Finally, Barclays upped their target price on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company an “underweight” rating in a research note on Monday, November 20th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $71.56.
Occidental Petroleum 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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