Earnest Partners LLC cut its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,792 shares of the oil and gas producer’s stock after selling 1,461 shares during the quarter. Earnest Partners LLC’s holdings in Occidental Petroleum were worth $3,364,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Occidental Petroleum by 1.7% in the 1st quarter. BlackRock Inc. now owns 51,336,909 shares of the oil and gas producer’s stock valued at $3,334,846,000 after purchasing an additional 857,046 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Occidental Petroleum by 21.2% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock valued at $1,418,851,000 after purchasing an additional 3,366,402 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Occidental Petroleum by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 13,863,294 shares of the oil and gas producer’s stock valued at $1,021,169,000 after purchasing an additional 345,382 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Occidental Petroleum by 0.3% in the 4th quarter. Franklin Resources Inc. now owns 13,764,887 shares of the oil and gas producer’s stock valued at $1,013,921,000 after purchasing an additional 41,765 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its position in shares of Occidental Petroleum by 0.4% in the 1st quarter. Epoch Investment Partners Inc. now owns 9,777,039 shares of the oil and gas producer’s stock valued at $635,116,000 after purchasing an additional 35,684 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.
NYSE OXY opened at $83.33 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.11 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $64.59 billion, a P/E ratio of 93.63, a P/E/G ratio of 2.98 and a beta of 0.62. Occidental Petroleum Co. has a 12 month low of $57.84 and a 12 month high of $87.67.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.21. Occidental Petroleum had a net margin of 13.47% and a return on equity of 6.15%. The company 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 firm posted $0.15 EPS. Occidental Petroleum’s revenue for the quarter was up 28.4% on a year-over-year basis. research analysts forecast that Occidental Petroleum Co. will post 4.36 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, June 11th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Friday, June 8th. Occidental Petroleum’s payout ratio is currently 346.07%.
A number of equities research analysts have commented on OXY shares. BMO Capital Markets reissued a “hold” rating and issued a $75.00 price objective on shares of Occidental Petroleum in a research report on Tuesday, February 27th. ValuEngine downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. UBS Group started coverage on shares of Occidental Petroleum in a research report on Wednesday, March 7th. They issued a “neutral” rating and a $71.00 price objective on the stock. Zacks Investment Research downgraded shares of Occidental Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, Deutsche Bank raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Friday, March 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Occidental Petroleum presently has an average rating of “Buy” and a consensus target price of $81.13.
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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