Taylor Hoffman Wealth Management bought a new position in Occidental Petroleum Co. (NYSE:OXY) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,543 shares of the oil and gas producer’s stock, valued at approximately $261,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cetera Investment Advisers bought a new stake in Occidental Petroleum in the 2nd quarter worth about $220,000. Ingalls & Snyder LLC grew its position in Occidental Petroleum by 17.6% in the 3rd quarter. Ingalls & Snyder LLC now owns 16,770 shares of the oil and gas producer’s stock worth $1,077,000 after purchasing an additional 2,510 shares in the last quarter. BerganKDV Wealth Management LLC grew its position in Occidental Petroleum by 46.0% in the 3rd quarter. BerganKDV Wealth Management LLC now owns 7,211 shares of the oil and gas producer’s stock worth $463,000 after purchasing an additional 2,272 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Occidental Petroleum in the 3rd quarter worth about $19,020,000. Finally, Tompkins Financial Corp grew its position in Occidental Petroleum by 3.2% in the 3rd quarter. Tompkins Financial Corp now owns 35,516 shares of the oil and gas producer’s stock worth $2,280,000 after purchasing an additional 1,092 shares in the last quarter. Institutional investors own 83.00% of the company’s stock.
OXY has been the subject of a number of research reports. Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Barclays increased their target price on shares of Occidental Petroleum from $45.00 to $47.00 and gave the company an “underweight” rating in a research report on Monday, November 20th. Scotiabank reissued a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum in a research report on Wednesday, November 22nd. Mizuho set a $71.00 target price on shares of Occidental Petroleum and gave the company a “hold” rating in a research report on Friday, November 24th. Finally, ValuEngine raised shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $71.56.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.54 billion. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.29%. During the same period last year, the firm earned ($0.13) EPS. analysts predict that Occidental Petroleum Co. will post 2.6 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.80%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is presently 182.25%.
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About Occidental Petroleum
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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