E Fund Management Co. Ltd. Takes $39,000 Position in Occidental Petroleum Co. (NYSE:OXY)

E Fund Management Co. Ltd. bought a new stake in Occidental Petroleum Co. (NYSE:OXY) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,474 shares of the oil and gas producer’s stock, valued at approximately $39,000.

Several other hedge funds have also recently made changes to their positions in the company. Adams Asset Advisors LLC raised its holdings in shares of Occidental Petroleum by 16.4% in the first quarter. Adams Asset Advisors LLC now owns 3,649,327 shares of the oil and gas producer’s stock valued at $97,145,000 after purchasing an additional 514,525 shares during the last quarter. Swiss National Bank raised its holdings in shares of Occidental Petroleum by 2.0% in the first quarter. Swiss National Bank now owns 3,581,151 shares of the oil and gas producer’s stock valued at $95,330,000 after purchasing an additional 68,900 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Occidental Petroleum by 2.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,937,746 shares of the oil and gas producer’s stock valued at $50,852,000 after purchasing an additional 58,805 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Occidental Petroleum by 3.8% in the fourth quarter. Nuveen Asset Management LLC now owns 2,129,634 shares of the oil and gas producer’s stock valued at $36,864,000 after purchasing an additional 78,384 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter valued at about $34,429,000. Institutional investors own 68.92% of the company’s stock.

OXY stock opened at $28.33 on Friday. The company has a 50 day moving average price of $25.89. The company has a debt-to-equity ratio of 4.15, a current ratio of 1.17 and a quick ratio of 0.92. Occidental Petroleum Co. has a 12 month low of $8.52 and a 12 month high of $32.52. The company has a market capitalization of $26.44 billion, a price-to-earnings ratio of -1.89 and a beta of 2.44.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Sunday, May 9th. The oil and gas producer reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.18. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $4.64 billion. Occidental Petroleum had a negative net margin of 85.93% and a negative return on equity of 29.82%. Occidental Petroleum’s revenue was down 20.0% compared to the same quarter last year. During the same period last year, the business earned ($0.52) earnings per share. Analysts anticipate that Occidental Petroleum Co. will post -1.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Thursday, June 10th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.14%. The ex-dividend date is Wednesday, June 9th. Occidental Petroleum’s dividend payout ratio (DPR) is presently -1.02%.

In other Occidental Petroleum news, major shareholder Carl C. Icahn sold 3,500,000 shares of Occidental Petroleum stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $25.60, for a total transaction of $89,600,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Carl C. Icahn sold 2,600,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, March 31st. The stock was sold at an average price of $26.88, for a total transaction of $69,888,000.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

A number of analysts recently issued reports on the stock. Wolfe Research restated an “underperform” rating and set a $20.00 price objective on shares of Occidental Petroleum in a report on Monday, April 19th. Societe Generale upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Monday, May 17th. Morgan Stanley raised their price objective on shares of Occidental Petroleum from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, April 19th. Susquehanna raised their price objective on shares of Occidental Petroleum from $28.00 to $31.00 and gave the stock a “positive” rating in a report on Wednesday, February 24th. Finally, Mizuho raised their price objective on shares of Occidental Petroleum from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, May 17th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $26.05.

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, the Middle East, Africa, and Latin America. The company operates through three segments: Oil and Gas, Chemical, and Marketing and Midstream.

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

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