Parametric Portfolio Associates LLC lowered its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 36.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,598,832 shares of the oil and gas producer’s stock after selling 913,313 shares during the period. Parametric Portfolio Associates LLC owned about 0.21% of Occidental Petroleum worth $80,389,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. MUFG Securities EMEA plc grew its position in shares of Occidental Petroleum by 37.4% in the 2nd quarter. MUFG Securities EMEA plc now owns 725,157 shares of the oil and gas producer’s stock valued at $36,461,000 after buying an additional 197,434 shares during the last quarter. Morningstar Investment Services LLC grew its position in shares of Occidental Petroleum by 2.0% in the 2nd quarter. Morningstar Investment Services LLC now owns 73,343 shares of the oil and gas producer’s stock valued at $3,688,000 after buying an additional 1,422 shares during the last quarter. MML Investors Services LLC grew its position in shares of Occidental Petroleum by 1.1% in the 2nd quarter. MML Investors Services LLC now owns 58,031 shares of the oil and gas producer’s stock valued at $2,918,000 after buying an additional 633 shares during the last quarter. Roble Belko & Company Inc bought a new stake in shares of Occidental Petroleum in the 2nd quarter valued at about $144,000. Finally, Impax Asset Management Group plc grew its position in shares of Occidental Petroleum by 9.2% in the 2nd quarter. Impax Asset Management Group plc now owns 13,340 shares of the oil and gas producer’s stock valued at $671,000 after buying an additional 1,128 shares during the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.
Shares of OXY stock traded up $0.30 on Friday, reaching $45.70. The company’s stock had a trading volume of 320,866 shares, compared to its average volume of 8,422,083. The company has a quick ratio of 1.00, a current ratio of 1.20 and a debt-to-equity ratio of 0.50. Occidental Petroleum Co. has a 12-month low of $41.83 and a 12-month high of $83.35. The company has a market capitalization of $34.75 billion, a P/E ratio of 9.09, a PEG ratio of 3.16 and a beta of 0.85. The stock’s 50 day simple moving average is $46.34 and its 200-day simple moving average is $54.83.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas producer reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. Occidental Petroleum had a return on equity of 17.06% and a net margin of 19.65%. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter last year, the business posted $1.10 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Research analysts expect that Occidental Petroleum Co. will post 2.94 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.79 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. This represents a $3.16 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date of this dividend is Monday, September 9th. Occidental Petroleum’s dividend payout ratio (DPR) is 63.07%.
A number of equities research analysts have commented on OXY shares. Morgan Stanley reduced their price target on Occidental Petroleum from $55.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, July 12th. JPMorgan Chase & Co. initiated coverage on Occidental Petroleum in a research report on Tuesday, August 13th. They issued an “underweight” rating and a $50.00 price target on the stock. Susquehanna Bancshares initiated coverage on Occidental Petroleum in a research note on Thursday, September 5th. They issued a “positive” rating and a $55.00 price objective on the stock. Argus downgraded Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 price objective on the stock. in a research note on Thursday, May 16th. Finally, Bank of America reaffirmed a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $65.93.
In other Occidental Petroleum news, CFO Cedric W. Burgher bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $43.27 per share, with a total value of $108,175.00. Following the completion of the purchase, the chief financial officer now directly owns 79,342 shares of the company’s stock, valued at $3,433,128.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Klesse bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $44.96 per share, for a total transaction of $224,800.00. Following the completion of the purchase, the director now directly owns 96,203 shares of the company’s stock, valued at $4,325,286.88. The disclosure for this purchase can be found here. Insiders have bought 33,500 shares of company stock worth $1,565,375 over the last ninety days. Insiders own 0.15% of the company’s stock.
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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