Stack Financial Management Inc cut its holdings in Occidental Petroleum Co. (NYSE:OXY) by 0.9% during the third quarter, HoldingsChannel.com reports. The firm owned 154,779 shares of the oil and gas producer’s stock after selling 1,402 shares during the period. Stack Financial Management Inc’s holdings in Occidental Petroleum were worth $12,718,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. IFM Investors Pty Ltd boosted its holdings in shares of Occidental Petroleum by 45.9% in the second quarter. IFM Investors Pty Ltd now owns 34,533 shares of the oil and gas producer’s stock valued at $2,890,000 after acquiring an additional 10,867 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in Occidental Petroleum by 12.7% during the second quarter. CENTRAL TRUST Co now owns 31,277 shares of the oil and gas producer’s stock worth $2,618,000 after buying an additional 3,521 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Occidental Petroleum by 3,077.0% during the second quarter. Fisher Asset Management LLC now owns 185,567 shares of the oil and gas producer’s stock worth $15,528,000 after buying an additional 179,726 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Occidental Petroleum by 17.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 13,587 shares of the oil and gas producer’s stock worth $1,137,000 after buying an additional 2,000 shares in the last quarter. Finally, Grassi Investment Management boosted its holdings in Occidental Petroleum by 15.5% during the second quarter. Grassi Investment Management now owns 16,190 shares of the oil and gas producer’s stock worth $1,355,000 after buying an additional 2,178 shares in the last quarter. Institutional investors own 80.95% of the company’s stock.
Shares of NYSE OXY traded up $1.08 on Wednesday, hitting $74.42. The company’s stock had a trading volume of 81,214 shares, compared to its average volume of 5,699,351. Occidental Petroleum Co. has a 12-month low of $62.47 and a 12-month high of $87.67. The company has a market capitalization of $52.24 billion, a PE ratio of 83.48, a price-to-earnings-growth ratio of 1.86 and a beta of 0.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.36 and a quick ratio of 1.19.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 10th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Friday, December 7th. Occidental Petroleum’s dividend payout ratio is presently 350.56%.
A number of analysts recently commented on the stock. Evercore ISI raised shares of Occidental Petroleum from an “in-line” rating to an “outperform” rating and set a $88.00 price objective on the stock in a report on Wednesday. Morgan Stanley decreased their price objective on shares of Occidental Petroleum from $100.00 to $96.00 and set a “buy” rating on the stock in a report on Monday. National Alliance Securities raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a report on Monday, August 13th. ValuEngine downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Finally, Mizuho reissued a “buy” rating on shares of Occidental Petroleum in a report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum has an average rating of “Buy” and an average price target of $84.00.
In other news, Director William R. Klesse acquired 5,000 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was acquired at an average price of $78.55 per share, with a total value of $392,750.00. Following the completion of the transaction, the director now directly owns 77,963 shares in the company, valued at approximately $6,123,993.65. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.
Occidental Petroleum Company 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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