CIBC Asset Management Inc Boosts Position in Occidental Petroleum Corporation (OXY)

CIBC Asset Management Inc boosted its holdings in Occidental Petroleum Corporation (NYSE:OXY) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 118,984 shares of the oil and gas producer’s stock after buying an additional 2,163 shares during the period. CIBC Asset Management Inc’s holdings in Occidental Petroleum Corporation were worth $7,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OXY. BlackRock Inc. raised its stake in shares of Occidental Petroleum Corporation by 3,198.5% during the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock valued at $3,737,692,000 after purchasing an additional 57,202,942 shares during the period. Capital Research Global Investors purchased a new stake in shares of Occidental Petroleum Corporation during the second quarter valued at approximately $179,610,000. Morgan Stanley raised its stake in shares of Occidental Petroleum Corporation by 22.1% during the first quarter. Morgan Stanley now owns 9,249,261 shares of the oil and gas producer’s stock valued at $586,034,000 after purchasing an additional 1,672,384 shares during the period. Principal Financial Group Inc. raised its stake in shares of Occidental Petroleum Corporation by 119.6% during the second quarter. Principal Financial Group Inc. now owns 2,372,784 shares of the oil and gas producer’s stock valued at $142,058,000 after purchasing an additional 1,292,162 shares during the period. Finally, Federated Investors Inc. PA raised its stake in shares of Occidental Petroleum Corporation by 18.0% during the second quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after purchasing an additional 1,152,152 shares during the period. Hedge funds and other institutional investors own 80.29% of the company’s stock.

A number of analysts have recently issued reports on the stock. Mizuho reiterated a “hold” rating and set a $64.00 price objective on shares of Occidental Petroleum Corporation in a research note on Friday, November 3rd. Cowen and Company reissued a “buy” rating and set a $80.00 price target on shares of Occidental Petroleum Corporation in a research report on Thursday, September 28th. BMO Capital Markets set a $60.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Jefferies Group LLC raised their price target on shares of Occidental Petroleum Corporation from $62.00 to $66.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Finally, Barclays PLC set a $38.00 price target on shares of Occidental Petroleum Corporation and gave the stock a “sell” rating in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $66.07.

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Shares of Occidental Petroleum Corporation (OXY) traded down $0.24 on Tuesday, hitting $67.93. 3,682,300 shares of the stock traded hands, compared to its average volume of 4,521,431. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $73.51. The firm has a market capitalization of $52,166.77, a P/E ratio of 194.77, a price-to-earnings-growth ratio of 13.71 and a beta of 0.63. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45.

Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. Occidental Petroleum Corporation had a net margin of 4.33% and a return on equity of 1.31%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. equities analysts expect that Occidental Petroleum Corporation will post 0.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 440.00%.

Occidental Petroleum Corporation Profile

Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), and midstream and marketing. The oil and gas segment explores for, develops and produces oil and condensate, natural gas liquids (NGLs) and natural gas.

Institutional Ownership by Quarter for Occidental Petroleum Corporation (NYSE:OXY)

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