S&CO Inc. Decreases Stake in Occidental Petroleum Co. (NYSE:OXY)
S&CO Inc. reduced its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 28.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,120 shares of the oil and gas producer’s stock after selling 2,020 shares during the period. S&CO Inc.’s holdings in Occidental Petroleum were worth $257,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of OXY. First Midwest Bank Trust Division raised its stake in Occidental Petroleum by 3.7% in the 2nd quarter. First Midwest Bank Trust Division now owns 15,174 shares of the oil and gas producer’s stock valued at $763,000 after purchasing an additional 545 shares during the last quarter. Global Trust Asset Management LLC raised its stake in Occidental Petroleum by 2,725.6% in the 2nd quarter. Global Trust Asset Management LLC now owns 12,122 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 11,693 shares during the last quarter. Reilly Financial Advisors LLC raised its stake in Occidental Petroleum by 354.6% in the 2nd quarter. Reilly Financial Advisors LLC now owns 16,869 shares of the oil and gas producer’s stock valued at $848,000 after purchasing an additional 13,158 shares during the last quarter. HGK Asset Management Inc. raised its stake in Occidental Petroleum by 8.4% in the 2nd quarter. HGK Asset Management Inc. now owns 94,140 shares of the oil and gas producer’s stock valued at $4,733,000 after purchasing an additional 7,295 shares during the last quarter. Finally, World Asset Management Inc raised its stake in Occidental Petroleum by 3.3% in the 2nd quarter. World Asset Management Inc now owns 53,681 shares of the oil and gas producer’s stock valued at $2,699,000 after purchasing an additional 1,708 shares during the last quarter. Institutional investors own 81.32% of the company’s stock.
Several brokerages recently weighed in on OXY. Argus boosted their target price on shares of Leidos to $82.00 and gave the company a “positive” rating in a research note on Thursday, May 16th. Wolfe Research downgraded shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and dropped their price objective for the company from $85.00 to $65.00 in a research note on Monday, May 13th. Zacks Investment Research downgraded shares of Genprex from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Royal Bank of Canada set a €86.00 ($100.00) price objective on shares of Henkel AG & Co KGaA and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, Wells Fargo & Co downgraded shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating in a research note on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $74.30.
Shares of NYSE:OXY traded up $1.20 during trading on Tuesday, reaching $52.11. 514,051 shares of the stock were exchanged, compared to its average volume of 6,809,200. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.23. Occidental Petroleum Co. has a 12-month low of $47.00 and a 12-month high of $84.55. The firm has a market capitalization of $38.61 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 3.00 and a beta of 0.83. The company has a 50-day moving average price of $50.43.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.12. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the previous year, the business earned $0.92 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts expect that Occidental Petroleum Co. will post 3.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 10th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend is Monday, September 9th. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.78. Occidental Petroleum’s dividend payout ratio is currently 62.28%.
Occidental Petroleum 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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