Livingston Group Asset Management CO operating as Southport Capital Management lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,150 shares of the oil and gas producer’s stock after selling 2,379 shares during the period. Occidental Petroleum comprises approximately 0.9% of Livingston Group Asset Management CO operating as Southport Capital Management’s holdings, making the stock its 23rd largest holding. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Occidental Petroleum were worth $2,128,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Occidental Petroleum during the 4th quarter worth approximately $475,929,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Occidental Petroleum by 5,978.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,105,650 shares of the oil and gas producer’s stock worth $83,000 after acquiring an additional 5,021,655 shares during the period. Dodge & Cox grew its holdings in shares of Occidental Petroleum by 58.7% during the 3rd quarter. Dodge & Cox now owns 9,887,895 shares of the oil and gas producer’s stock worth $812,488,000 after acquiring an additional 3,656,670 shares during the period. Millennium Management LLC grew its holdings in shares of Occidental Petroleum by 401.0% during the 4th quarter. Millennium Management LLC now owns 3,275,239 shares of the oil and gas producer’s stock worth $201,034,000 after acquiring an additional 2,621,463 shares during the period. Finally, Vanguard Group Inc grew its holdings 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 acquiring an additional 1,370,841 shares during the period. Institutional investors own 84.34% of the company’s stock.
A number of research analysts have weighed in on the company. Oppenheimer assumed coverage on Occidental Petroleum in a report on Wednesday, March 27th. They set a “market perform” rating on the stock. Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday. ValuEngine downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Citigroup downgraded Occidental Petroleum from a “buy” rating to a “neutral” rating and cut their price target for the stock from $80.00 to $72.00 in a research note on Tuesday, February 19th. Finally, Mizuho restated a “buy” rating and issued a $82.00 price target on shares of Occidental Petroleum in a research note on Wednesday, February 13th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Occidental Petroleum has a consensus rating of “Buy” and a consensus target price of $83.80.
OXY stock traded up $0.26 during midday trading on Wednesday, hitting $63.93. The company’s stock had a trading volume of 111,991 shares, compared to its average volume of 4,605,875. The stock has a market capitalization of $47.62 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. Occidental Petroleum Co. has a 12 month low of $56.83 and a 12 month high of $87.67. The company has a current ratio of 1.34, a quick ratio of 1.17 and a debt-to-equity ratio of 0.48.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 EPS. On average, research analysts predict that Occidental Petroleum Co. will post 3.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 11th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.12 annualized dividend and a yield of 4.88%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 62.28%.
Occidental Petroleum Profile
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.
Read More: What are the benefits of momentum investing?
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.