Taylor Hoffman Wealth Management purchased a new stake in shares of Occidental Petroleum Co. (NYSE:OXY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,543 shares of the oil and gas producer’s stock, valued at approximately $261,000.
A number of other hedge funds also recently made changes to their positions in OXY. Virtu Financial LLC grew its stake in shares of Occidental Petroleum by 13.8% in the 4th quarter. Virtu Financial LLC now owns 9,067 shares of the oil and gas producer’s stock worth $668,000 after purchasing an additional 1,098 shares during the last quarter. Schroder Investment Management Group increased its position in shares of Occidental Petroleum by 47.9% in the fourth quarter. Schroder Investment Management Group now owns 2,460,021 shares of the oil and gas producer’s stock worth $181,204,000 after acquiring an additional 797,122 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Occidental Petroleum by 2.6% during the fourth quarter. Bank of New York Mellon Corp now owns 13,863,294 shares of the oil and gas producer’s stock worth $1,021,169,000 after purchasing an additional 345,382 shares during the period. Bridges Investment Counsel Inc. acquired a new stake in shares of Occidental Petroleum during the fourth quarter worth approximately $212,000. Finally, Fragasso Group Inc. boosted its holdings in shares of Occidental Petroleum by 17.2% during the fourth quarter. Fragasso Group Inc. now owns 17,877 shares of the oil and gas producer’s stock worth $1,317,000 after purchasing an additional 2,628 shares during the period. 83.00% of the stock is owned by institutional investors.
OXY has been the subject of a number of analyst reports. Macquarie initiated coverage on shares of Occidental Petroleum in a research note on Wednesday, January 17th. They issued a “neutral” rating for the company. Cowen set a $85.00 price objective on shares of Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday, January 18th. Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Bank of America lowered shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and set a $80.00 price target on the stock. in a report on Thursday, January 4th. They noted that the move was a valuation call. Finally, UBS Group assumed coverage on shares of Occidental Petroleum in a research note on Wednesday, March 7th. They issued a “neutral” rating and a $71.00 target price on the stock. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. Occidental Petroleum currently has an average rating of “Hold” and a consensus target price of $71.56.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. Occidental Petroleum had a return on equity of 3.29% and a net margin of 9.88%. The firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter last year, the business earned ($0.13) EPS. equities research analysts expect that Occidental Petroleum Co. will post 2.6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 9th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s payout ratio is 180.12%.
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Occidental Petroleum Company Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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