Sumitomo Mitsui Asset Management Company LTD increased its holdings in Occidental Petroleum Co. (NYSE:OXY) by 36.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,382 shares of the oil and gas producer’s stock after purchasing an additional 18,445 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Occidental Petroleum were worth $4,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Country Trust Bank lifted its holdings in shares of Occidental Petroleum by 434.6% during the fourth quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 339 shares during the last quarter. We Are One Seven LLC purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $25,000. Pinnacle Bank purchased a new position in shares of Occidental Petroleum during the fourth quarter valued at approximately $28,000. Heritage Trust Co lifted its holdings in shares of Occidental Petroleum by 496.2% during the fourth quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 387 shares during the last quarter. Finally, Harvest Group Wealth Management LLC purchased a new position in shares of Occidental Petroleum during the first quarter valued at approximately $34,000. 84.05% of the stock is currently owned by institutional investors.
NYSE:OXY traded down $0.87 during trading hours on Friday, reaching $52.88. The company had a trading volume of 140,436 shares, compared to its average volume of 15,306,904. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. Occidental Petroleum Co. has a 52 week low of $53.12 and a 52 week high of $87.67. The company has a market cap of $39.74 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.76.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.12. Occidental Petroleum had a net margin of 21.17% and a return on equity of 17.70%. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The firm’s revenue was up 6.9% on a year-over-year basis. Research analysts forecast that Occidental Petroleum Co. will post 3.9 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders 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 yield of 5.90%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 62.28%.
Several equities analysts have recently issued reports on the stock. Argus lowered shares of Occidental Petroleum from a “buy” rating to a “hold” rating and set a $54.61 target price for the company. in a report on Thursday. Oppenheimer assumed coverage on shares of Occidental Petroleum in a report on Wednesday, March 27th. They set a “market perform” rating for the company. Zacks Investment Research upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Tuesday, April 16th. Royal Bank of Canada lifted their target price on shares of Occidental Petroleum to $76.00 in a report on Tuesday, May 7th. Finally, Wolfe Research lowered shares of Occidental Petroleum from an “outperform” rating to a “peer perform” rating and lowered their target price for the company from $85.00 to $65.00 in a report on Monday. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $75.01.
About Occidental Petroleum
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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