Eagle Asset Management Inc. Sells 25,748 Shares of Occidental Petroleum (OXY)

Eagle Asset Management Inc. reduced its position in Occidental Petroleum (NYSE:OXY) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,474,399 shares of the oil and gas producer’s stock after selling 25,748 shares during the quarter. Eagle Asset Management Inc. owned about 0.19% of Occidental Petroleum worth $95,776,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OXY. Creative Planning raised its stake in Occidental Petroleum by 9.6% in the 4th quarter. Creative Planning now owns 58,545 shares of the oil and gas producer’s stock valued at $4,312,000 after purchasing an additional 5,146 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Occidental Petroleum by 25.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas producer’s stock valued at $261,000 after purchasing an additional 714 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Occidental Petroleum by 2.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,992,617 shares of the oil and gas producer’s stock valued at $220,437,000 after purchasing an additional 74,332 shares during the last quarter. Acadian Asset Management LLC raised its stake in Occidental Petroleum by 27,647.6% in the 4th quarter. Acadian Asset Management LLC now owns 11,654 shares of the oil and gas producer’s stock valued at $858,000 after purchasing an additional 11,612 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Occidental Petroleum by 332.6% in the 4th quarter. State of Alaska Department of Revenue now owns 126,461 shares of the oil and gas producer’s stock valued at $9,313,000 after purchasing an additional 97,226 shares during the last quarter. 82.63% of the stock is owned by hedge funds and other institutional investors.

Shares of OXY opened at $85.42 on Friday. Occidental Petroleum has a 52-week low of $57.84 and a 52-week high of $86.24. The firm has a market capitalization of $64.52 billion, a price-to-earnings ratio of 95.98, a P/E/G ratio of 3.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.26 and a quick ratio of 1.11.

Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Tuesday, May 8th. The oil and gas producer reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.21. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.63 billion. Occidental Petroleum had a return on equity of 6.15% and a net margin of 13.47%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period last year, the company earned $0.15 EPS. sell-side analysts forecast that Occidental Petroleum will post 3.79 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Monday, June 11th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date is Friday, June 8th. Occidental Petroleum’s payout ratio is 346.07%.

Several research analysts recently commented on OXY shares. Citigroup raised Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective for the company in a research note on Monday, January 22nd. Piper Jaffray raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $77.00 to $86.00 in a research note on Sunday, April 15th. Deutsche Bank raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Friday, March 23rd. ValuEngine downgraded Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, JPMorgan Chase cut their target price on Occidental Petroleum from $75.00 to $74.00 and set a “neutral” rating for the company in a research note on Monday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Occidental Petroleum has an average rating of “Hold” and a consensus price target of $76.94.

Occidental Petroleum Profile

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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