Corecam AG lessened its holdings in Occidental Petroleum Corporation (NYSE:OXY – Free Report) by 38.9% during the third quarter, HoldingsChannel.com reports. The fund owned 27,960 shares of the oil and gas producer’s stock after selling 17,790 shares during the period. Occidental Petroleum makes up about 1.5% of Corecam AG’s holdings, making the stock its 25th biggest holding. Corecam AG’s holdings in Occidental Petroleum were worth $1,547,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of OXY. Berkshire Hathaway Inc acquired a new position in Occidental Petroleum during the 2nd quarter worth approximately $12,868,205,000. Engineers Gate Manager LP boosted its position in Occidental Petroleum by 1,329.2% in the second quarter. Engineers Gate Manager LP now owns 59,725 shares of the oil and gas producer’s stock valued at $2,901,000 after buying an additional 55,546 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Occidental Petroleum in the second quarter valued at approximately $10,041,000. Swiss National Bank boosted its position in Occidental Petroleum by 7.2% in the first quarter. Swiss National Bank now owns 2,168,414 shares of the oil and gas producer’s stock valued at $140,947,000 after buying an additional 145,100 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Occidental Petroleum by 4.1% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,685,169 shares of the oil and gas producer’s stock worth $109,536,000 after buying an additional 66,438 shares during the last quarter. Institutional investors and hedge funds own 88.70% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on OXY. The Goldman Sachs Group upped their price target on shares of Occidental Petroleum from $69.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, October 27th. Barclays cut their price objective on Occidental Petroleum from $75.00 to $71.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. UBS Group boosted their price objective on Occidental Petroleum from $67.00 to $73.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 14th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $68.00 target price on shares of Occidental Petroleum in a report on Wednesday, October 14th. Finally, Seaport Research Partners initiated coverage on Occidental Petroleum in a report on Thursday, September 3rd. They issued a “buy” rating and a $73.00 target price for the company. Twelve equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.88.
View Our Latest Stock Analysis on Occidental Petroleum
Occidental Petroleum Stock Up 1.6%
NYSE:OXY opened at $64.01 on Friday. Occidental Petroleum Corporation has a one year low of $38.80 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.41 and a quick ratio of 1.13. The company has a market cap of $63.99 billion, a PE ratio of 9.91, a P/E/G ratio of 0.74 and a beta of 0.24. The firm’s 50 day simple moving average is $60.18 and its 200 day simple moving average is $55.91.
Occidental Petroleum (NYSE:OXY – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.57. The firm had revenue of $8.06 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Occidental Petroleum had a net margin of 28.36% and a return on equity of 15.31%. The company’s revenue was up 53.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. On average, research analysts anticipate that Occidental Petroleum Corporation will post 6.81 earnings per share for the current year.
Occidental Petroleum Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 10th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $1.12 annualized dividend and a dividend yield of 1.7%. Occidental Petroleum’s payout ratio is currently 17.34%.
Occidental Petroleum Profile
Occidental Petroleum Corporation is an energy company engaged in oil and natural gas exploration, development and production. Its operations are focused primarily on the United States, including the Permian and DJ basins, as well as selected international regions in the Middle East and North Africa.
The company’s OxyChem subsidiary manufactures and markets chlor-alkali chemicals, vinyls and other chemical products used in water treatment, construction, healthcare, packaging and industrial applications.
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