Morningstar Investment Services LLC increased its position in shares of Occidental Petroleum (NYSE:OXY) by 5.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,995 shares of the oil and gas producer’s stock after acquiring an additional 2,714 shares during the period. Morningstar Investment Services LLC’s holdings in Occidental Petroleum were worth $3,637,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Synovus Financial Corp increased its position in Occidental Petroleum by 15.5% during the fourth quarter. Synovus Financial Corp now owns 9,157 shares of the oil and gas producer’s stock worth $673,000 after buying an additional 1,232 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Occidental Petroleum during the fourth quarter worth $378,000. Cambridge Investment Research Advisors Inc. increased its position in Occidental Petroleum by 23.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 34,897 shares of the oil and gas producer’s stock worth $2,571,000 after buying an additional 6,550 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new position in Occidental Petroleum during the fourth quarter worth $355,000. Finally, Taylor Hoffman Wealth Management acquired a new position in Occidental Petroleum during the fourth quarter worth $261,000. Institutional investors and hedge funds own 80.72% of the company’s stock.
Several research firms have commented on OXY. Credit Suisse Group increased their target price on shares of Occidental Petroleum from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 9th. Zacks Investment Research raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Monday, May 14th. Scotiabank raised shares of Occidental Petroleum from a “sector perform” rating to an “outperform” rating in a research report on Monday, May 21st. ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Monday, April 9th. Finally, TheStreet raised shares of Occidental Petroleum from a “c+” rating to a “b” rating in a research report on Tuesday, May 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. Occidental Petroleum currently has an average rating of “Hold” and an average price target of $76.94.
Shares of NYSE:OXY opened at $82.40 on Friday. The stock has a market capitalization of $63.10 billion, a PE ratio of 92.58, a price-to-earnings-growth ratio of 3.16 and a beta of 0.60. Occidental Petroleum has a 52-week low of $57.84 and a 52-week high of $86.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.26.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.21. Occidental Petroleum had a return on equity of 6.15% and a net margin of 13.47%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period last year, the business earned $0.15 earnings per share. The firm’s revenue for the quarter was up 28.4% compared to the same quarter last year. sell-side analysts predict that Occidental Petroleum will post 4.01 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, June 11th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Friday, June 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 346.07%.
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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