Systematic Financial Management LP purchased a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,848 shares of the oil and gas producer’s stock, valued at approximately $82,000.
Several other large investors also recently bought and sold shares of OXY. Fernwood Investment Management LLC increased its holdings in Occidental Petroleum by 3.0% in the 2nd quarter. Fernwood Investment Management LLC now owns 6,810 shares of the oil and gas producer’s stock valued at $342,000 after buying an additional 200 shares during the period. Griffin Asset Management Inc. lifted its holdings in Occidental Petroleum by 2.7% during the second quarter. Griffin Asset Management Inc. now owns 8,440 shares of the oil and gas producer’s stock valued at $424,000 after purchasing an additional 225 shares during the last quarter. Liberty Wealth Management LLC increased its position in shares of Occidental Petroleum by 36.4% during the third quarter. Liberty Wealth Management LLC now owns 907 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 242 shares during the period. CENTRAL TRUST Co increased its position in shares of Occidental Petroleum by 1.0% during the second quarter. CENTRAL TRUST Co now owns 25,206 shares of the oil and gas producer’s stock valued at $1,272,000 after buying an additional 250 shares during the period. Finally, Ipswich Investment Management Co. Inc. increased its position in shares of Occidental Petroleum by 5.0% during the third quarter. Ipswich Investment Management Co. Inc. now owns 5,380 shares of the oil and gas producer’s stock valued at $239,000 after buying an additional 255 shares during the period. 72.86% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on OXY. Tudor Pickering cut Occidental Petroleum from a “hold” rating to a “sell” rating and set a $36.00 price target on the stock. in a research report on Monday, November 11th. Zacks Investment Research upgraded shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating and set a $34.00 price objective on the stock in a research report on Tuesday, October 15th. Morgan Stanley decreased their price objective on shares of Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Friday, October 4th. Bank of America set a $80.00 price objective on shares of Occidental Petroleum and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Goldman Sachs Group assumed coverage on shares of Occidental Petroleum in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $52.50 price objective on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum currently has an average rating of “Hold” and an average price target of $59.08.
In related news, Director William R. Klesse acquired 6,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was purchased at an average price of $38.09 per share, with a total value of $228,540.00. Following the completion of the purchase, the director now owns 119,203 shares in the company, valued at approximately $4,540,442.27. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William R. Klesse acquired 12,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $39.31 per share, with a total value of $471,720.00. Following the purchase, the director now owns 113,203 shares of the company’s stock, valued at approximately $4,450,009.93. The disclosure for this purchase can be found here. In the last three months, insiders have bought 23,000 shares of company stock valued at $927,960. Insiders own 0.15% of the company’s stock.
Shares of NYSE OXY opened at $39.58 on Monday. Occidental Petroleum Co. has a one year low of $37.60 and a one year high of $72.43. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.33 and a quick ratio of 1.23. The firm’s 50 day simple moving average is $40.91 and its two-hundred day simple moving average is $46.91. The stock has a market capitalization of $34.95 billion, a P/E ratio of 7.90, a PEG ratio of 4.34 and a beta of 0.85.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.30). The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.59 billion. Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.77 earnings per share. As a group, equities analysts expect that Occidental Petroleum Co. will post 1.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.98%. The ex-dividend date of this dividend is Monday, December 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 63.07%.
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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