Duality Advisers LP cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 33.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,390 shares of the oil and gas producer’s stock after selling 49,880 shares during the period. Duality Advisers LP’s holdings in Occidental Petroleum were worth $6,447,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc boosted its stake in shares of Occidental Petroleum by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock worth $5,133,793,000 after purchasing an additional 1,370,841 shares during the period. Macquarie Group Ltd. boosted its position in Occidental Petroleum by 7.9% in the 4th quarter. Macquarie Group Ltd. now owns 10,146,677 shares of the oil and gas producer’s stock valued at $622,804,000 after buying an additional 744,802 shares during the period. Northern Trust Corp boosted its position in Occidental Petroleum by 2.6% in the 4th quarter. Northern Trust Corp now owns 9,890,631 shares of the oil and gas producer’s stock valued at $607,087,000 after buying an additional 246,720 shares during the period. Geode Capital Management LLC boosted its position in Occidental Petroleum by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 9,152,375 shares of the oil and gas producer’s stock valued at $560,842,000 after buying an additional 316,507 shares during the period. Finally, Norges Bank purchased a new stake in Occidental Petroleum in the 4th quarter valued at about $475,929,000. Hedge funds and other institutional investors own 81.70% of the company’s stock.
Several equities research analysts have issued reports on OXY shares. KeyCorp lowered their price objective on shares of Occidental Petroleum from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. Zacks Investment Research upgraded shares of Occidental Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 5th. Wells Fargo & Co lowered shares of Occidental Petroleum from an “outperform” rating to a “market perform” rating in a report on Monday, May 20th. Morgan Stanley lowered shares of Occidental Petroleum from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $69.00 to $55.00 in a report on Monday, June 24th. Finally, Raymond James set a $80.00 price target on shares of Occidental Petroleum and gave the company a “buy” rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $74.48.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, beating the consensus estimate of $0.72 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. Research analysts expect that Occidental Petroleum Co. will post 3.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 10th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 62.28%.
In other news, Director Avedick Baruyr Poladian purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were purchased at an average cost of $48.77 per share, with a total value of $243,850.00. Following the completion of the acquisition, the director now owns 60,319 shares of the company’s stock, valued at approximately $2,941,757.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Cedric W. Burgher acquired 4,100 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were bought at an average cost of $49.61 per share, for a total transaction of $203,401.00. Following the completion of the acquisition, the chief financial officer now owns 76,842 shares of the company’s stock, valued at $3,812,131.62. The disclosure for this purchase can be found here. Insiders have purchased 80,660 shares of company stock worth $3,893,851 over the last three months. 0.15% of the stock is currently owned by insiders.
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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