New Mexico Educational Retirement Board lowered its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 3.4% during the first quarter, HoldingsChannel reports. The firm owned 62,913 shares of the oil and gas producer’s stock after selling 2,200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Occidental Petroleum were worth $4,165,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Occidental Petroleum by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 62,477,713 shares of the oil and gas producer’s stock valued at $5,133,793,000 after acquiring an additional 1,370,841 shares during the period. Vanguard Group Inc grew its holdings in Occidental Petroleum by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock valued at $5,133,793,000 after buying an additional 1,370,841 shares in the last quarter. Macquarie Group Ltd. grew its holdings 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 in the last quarter. Northern Trust Corp grew its holdings 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 in the last quarter. Finally, Dodge & Cox grew its holdings in Occidental Petroleum by 58.7% in the 3rd quarter. Dodge & Cox now owns 9,887,895 shares of the oil and gas producer’s stock valued at $812,488,000 after buying an additional 3,656,670 shares in the last quarter. Institutional investors own 84.34% of the company’s stock.
A number of research analysts have commented on the company. ValuEngine lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Zacks Investment Research lowered Occidental Petroleum from a “hold” rating to a “strong sell” rating in a report on Friday, January 11th. Mizuho reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Occidental Petroleum in a report on Wednesday, February 13th. Oppenheimer assumed coverage on Occidental Petroleum in a report on Wednesday, March 27th. They issued a “market perform” rating on the stock. Finally, Citigroup lowered Occidental Petroleum from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $80.00 to $72.00 in a report on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $83.80.
OXY opened at $63.67 on Wednesday. The firm has a market cap of $47.62 billion, a PE ratio of 12.71, a P/E/G ratio of 1.18 and a beta of 0.83. Occidental Petroleum Co. has a 52-week low of $56.83 and a 52-week 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 earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.39 billion. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. Occidental Petroleum’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. Equities analysts forecast that Occidental Petroleum Co. will post 3.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 11th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.90%. The ex-dividend date was Friday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is currently 62.28%.
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Occidental Petroleum Company 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.
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