Edmond DE Rothschild Holding S.A. grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 27.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,400 shares of the oil and gas producer’s stock after purchasing an additional 1,600 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Occidental Petroleum were worth $490,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in OXY. Pinnacle Bank purchased a new position in Occidental Petroleum in the 4th quarter worth approximately $28,000. Sontag Advisory LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $32,000. Rational Advisors LLC increased its stake in shares of Occidental Petroleum by 83.2% during the fourth quarter. Rational Advisors LLC now owns 555 shares of the oil and gas producer’s stock valued at $34,000 after buying an additional 252 shares during the period. Liberty Wealth Management LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $34,000. Finally, Harvest Group Wealth Management LLC purchased a new position in shares of Occidental Petroleum during the first quarter valued at approximately $34,000. 81.70% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on OXY. Royal Bank of Canada boosted their target price on Occidental Petroleum to $76.00 in a report on Tuesday, May 7th. Morgan Stanley set a $69.00 price target on Occidental Petroleum and gave the company a “buy” rating in a report on Wednesday, May 8th. Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, April 16th. Raymond James set a $80.00 price target on Occidental Petroleum and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, TheStreet cut Occidental Petroleum from a “b-” rating to a “c+” rating in a research report on Friday, May 24th. 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 company. Occidental Petroleum has an average rating of “Hold” and a consensus target price of $74.48.
Shares of NYSE:OXY traded down $0.50 during trading on Monday, hitting $49.78. 6,512,739 shares of the company’s stock were exchanged, compared to its average volume of 7,825,098. The firm has a 50-day moving average of $50.87. Occidental Petroleum Co. has a 52-week low of $47.00 and a 52-week high of $86.60. The firm has a market capitalization of $37.60 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 2.70 and a beta of 0.83. 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 (NYSE:OXY) last announced its quarterly earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.12. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Research analysts expect that Occidental Petroleum Co. will post 3.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s payout ratio is presently 62.28%.
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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