First Commonwealth Financial Corp PA bought a new position in shares of Occidental Petroleum (NYSE:OXY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,426 shares of the oil and gas producer’s stock, valued at approximately $326,000.
A number of other institutional investors have also recently bought and sold shares of OXY. Jennison Associates LLC increased its holdings in Occidental Petroleum by 50.6% during the 3rd quarter. Jennison Associates LLC now owns 9,043 shares of the oil and gas producer’s stock worth $581,000 after acquiring an additional 3,039 shares during the period. New York State Common Retirement Fund increased its holdings in Occidental Petroleum by 0.4% during the 3rd quarter. New York State Common Retirement Fund now owns 2,258,100 shares of the oil and gas producer’s stock worth $144,993,000 after acquiring an additional 8,000 shares during the period. Ameriprise Financial Inc. increased its holdings in Occidental Petroleum by 2.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 6,564,040 shares of the oil and gas producer’s stock worth $421,505,000 after acquiring an additional 175,502 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Occidental Petroleum during the 3rd quarter worth approximately $656,000. Finally, Chartwell Investment Partners LLC increased its holdings in Occidental Petroleum by 2.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 127,695 shares of the oil and gas producer’s stock worth $8,199,000 after acquiring an additional 2,960 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Occidental Petroleum from $66.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Macquarie assumed coverage on shares of Occidental Petroleum in a report on Wednesday, January 17th. They set a “neutral” rating on the stock. Citigroup raised shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 target price on the stock in a report on Monday, January 22nd. Cowen set a $85.00 target price on shares of Occidental Petroleum and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, Mizuho set a $79.00 target price on shares of Occidental Petroleum and gave the stock a “hold” rating in a report on Tuesday, January 16th. 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 company’s stock. The stock has a consensus rating of “Hold” and an average target price of $71.56.
OXY stock opened at $63.91 on Wednesday. The company has a market cap of $49,313.83, a price-to-earnings ratio of 37.37, a PEG ratio of 3.80 and a beta of 0.64. Occidental Petroleum has a twelve month low of $57.20 and a twelve month high of $78.09. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.41. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the company earned ($0.13) EPS. equities research analysts expect that Occidental Petroleum will post 2.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 9th will be paid a $0.77 dividend. The ex-dividend date is Thursday, March 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.82%. Occidental Petroleum’s dividend payout ratio (DPR) is 180.12%.
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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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