Jacobs Levy Equity Management Inc. decreased its position in Occidental Petroleum Co. (NYSE:OXY) by 61.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 260,706 shares of the oil and gas producer’s stock after selling 418,400 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Occidental Petroleum were worth $17,259,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of OXY. UBS Oconnor LLC acquired a new stake in Occidental Petroleum during the 4th quarter worth $4,604,000. Providence Wealth Advisors LLC raised its stake in Occidental Petroleum by 18.3% during the 1st quarter. Providence Wealth Advisors LLC now owns 11,584 shares of the oil and gas producer’s stock worth $774,000 after buying an additional 1,791 shares during the period. Envestnet Asset Management Inc. raised its stake in Occidental Petroleum by 13.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,027,862 shares of the oil and gas producer’s stock worth $68,044,000 after buying an additional 125,245 shares during the period. Aspire Private Capital LLC acquired a new stake in shares of Occidental Petroleum in the 4th quarter valued at about $410,000. Finally, Korea Investment CORP raised its stake in shares of Occidental Petroleum by 5.9% in the 4th quarter. Korea Investment CORP now owns 922,832 shares of the oil and gas producer’s stock valued at $56,643,000 after purchasing an additional 51,800 shares during the period. 81.77% of the stock is owned by hedge funds and other institutional investors.
In other Occidental Petroleum news, Director Avedick Baruyr Poladian purchased 5,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, June 12th. The stock was acquired at an average price of $48.77 per share, for a total transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vicki A. Hollub purchased 37,460 shares of Occidental Petroleum stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average price of $48.15 per share, with a total value of $1,803,699.00. Following the acquisition, the insider now directly owns 248,326 shares of the company’s stock, valued at approximately $11,956,896.90. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 80,660 shares of company stock worth $3,893,851. 0.15% of the stock is owned by company insiders.
Shares of NYSE:OXY traded down $0.14 during midday trading on Friday, reaching $49.59. The company had a trading volume of 56,415 shares, compared to its average volume of 11,706,192. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 1.23. The company has a market cap of $36.49 billion, a P/E ratio of 9.90, a P/E/G ratio of 2.53 and a beta of 0.86. Occidental Petroleum Co. has a 1-year low of $47.00 and a 1-year high of $86.60.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 17.70% and a net margin of 21.17%. Occidental Petroleum’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. As a group, equities analysts predict that Occidental Petroleum Co. will post 3.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 10th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is currently 62.28%.
Several analysts have issued reports on OXY shares. Zacks Investment Research downgraded Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. KeyCorp downgraded Occidental Petroleum from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, April 24th. Morgan Stanley set a $72.00 price target on Occidental Petroleum and gave the company a “buy” rating in a research note on Thursday, February 14th. Atlantic Securities downgraded Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price target on the stock. in a research note on Thursday, April 25th. Finally, Mizuho downgraded Occidental Petroleum from a “buy” rating to a “neutral” rating and dropped their price target for the company from $83.00 to $70.00 in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $75.30.
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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.
See Also: Initial Public Offering (IPO)
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