Bleakley Financial Group LLC boosted its holdings in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 62.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,848 shares of the oil and gas producer’s stock after purchasing an additional 38,456 shares during the quarter. Bleakley Financial Group LLC’s holdings in Occidental Petroleum were worth $6,490,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in Occidental Petroleum by 12.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,765 shares of the oil and gas producer’s stock worth $111,000 after buying an additional 196 shares during the last quarter. Athena Wealth Management LLC increased its stake in shares of Occidental Petroleum by 1.2% during the 1st quarter. Athena Wealth Management LLC now owns 18,547 shares of the oil and gas producer’s stock valued at $1,206,000 after acquiring an additional 214 shares during the last quarter. Carrera Capital Advisors lifted its holdings in shares of Occidental Petroleum by 0.5% during the 4th quarter. Carrera Capital Advisors now owns 44,279 shares of the oil and gas producer’s stock worth $1,831,000 after acquiring an additional 227 shares during the period. Summit Securities Group LLC lifted its holdings in shares of Occidental Petroleum by 18.5% during the 4th quarter. Summit Securities Group LLC now owns 1,469 shares of the oil and gas producer’s stock worth $60,000 after acquiring an additional 229 shares during the period. Finally, Apella Capital LLC boosted its position in shares of Occidental Petroleum by 3.4% in the fourth quarter. Apella Capital LLC now owns 7,019 shares of the oil and gas producer’s stock worth $289,000 after acquiring an additional 233 shares during the last quarter. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Scotiabank upped their price target on shares of Occidental Petroleum from $46.00 to $57.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Weiss Ratings cut shares of Occidental Petroleum from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 23rd. Raymond James Financial upped their price objective on Occidental Petroleum from $64.00 to $75.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Morgan Stanley cut their target price on Occidental Petroleum from $74.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Friday, June 26th. Finally, UBS Group reduced their target price on Occidental Petroleum from $67.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. Based on data from MarketBeat, Occidental Petroleum has an average rating of “Hold” and a consensus target price of $64.26.
Occidental Petroleum Stock Performance
Shares of OXY stock opened at $54.60 on Wednesday. The company’s fifty day simple moving average is $54.80 and its 200-day simple moving average is $52.75. Occidental Petroleum Corporation has a 52 week low of $38.80 and a 52 week high of $67.45. The company has a current ratio of 1.21, a quick ratio of 1.01 and a debt-to-equity ratio of 0.49. The company has a market cap of $54.31 billion, a PE ratio of 13.75 and a beta of 0.15.
Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The firm had revenue of $5.11 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same period in the prior year, the company earned $0.14 EPS. The firm’s revenue was down 8.3% on a year-over-year basis. As a group, equities research analysts anticipate that Occidental Petroleum Corporation will post 5.93 EPS for the current year.
Occidental Petroleum Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum’s payout ratio is currently 26.20%.
Insider Buying and Selling at Occidental Petroleum
In related news, CEO Richard A. Jackson bought 4,770 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was bought at an average price of $52.38 per share, with a total value of $249,852.60. Following the completion of the transaction, the chief executive officer directly owned 444,098 shares of the company’s stock, valued at approximately $23,261,853.24. This represents a 1.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by insiders.
Occidental Petroleum Profile
Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.
Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.
Featured Stories
- Five stocks we like better than Occidental Petroleum
- Why Fastenal’s Latest Drop Could Be Its Biggest Opportunity Yet
- 3 Overlooked Energy ETFs Delivering Strong Returns and Income
- 3 Space Stocks That Could Outshine SpaceX After Its IPO
- JPMorgan’s Q2 Strength Gives the Stock Rally New Support
Want to see what other hedge funds are holding OXY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Occidental Petroleum Corporation (NYSE:OXY – Free Report).
Receive News & Ratings for Occidental Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Occidental Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.
