RFG Advisory LLC boosted its stake in Occidental Petroleum Co. (NYSE:OXY) by 41.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,042 shares of the oil and gas producer’s stock after buying an additional 2,349 shares during the period. RFG Advisory LLC’s holdings in Occidental Petroleum were worth $331,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Griffin Asset Management Inc. increased its position in Occidental Petroleum by 2.7% in the second quarter. Griffin Asset Management Inc. now owns 8,440 shares of the oil and gas producer’s stock worth $424,000 after buying an additional 225 shares during the period. Liberty Wealth Management LLC increased its holdings in shares of Occidental Petroleum by 36.4% during the third quarter. Liberty Wealth Management LLC now owns 907 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 242 shares during the period. Ipswich Investment Management Co. Inc. increased its holdings in shares of Occidental Petroleum by 5.0% during the third quarter. Ipswich Investment Management Co. Inc. now owns 5,380 shares of the oil and gas producer’s stock valued at $239,000 after purchasing an additional 255 shares during the period. Truewealth LLC increased its holdings in shares of Occidental Petroleum by 52.4% during the third quarter. Truewealth LLC now owns 785 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 270 shares during the period. Finally, Strategic Investment Advisors MI increased its holdings in shares of Occidental Petroleum by 6.2% during the third quarter. Strategic Investment Advisors MI now owns 4,673 shares of the oil and gas producer’s stock valued at $208,000 after purchasing an additional 274 shares during the period. 78.54% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director William R. Klesse purchased 12,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $39.31 per share, for a total transaction of $471,720.00. Following the transaction, the director now directly owns 113,203 shares of the company’s stock, valued at approximately $4,450,009.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jack B. Moore purchased 12,900 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average price of $38.61 per share, with a total value of $498,069.00. Following the transaction, the director now directly owns 129,203 shares in the company, valued at $4,988,527.83. The disclosure for this purchase can be found here. Insiders purchased a total of 35,900 shares of company stock valued at $1,393,129 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.30). Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.59 billion. During the same quarter last year, the business earned $1.77 EPS. The company’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Occidental Petroleum Co. will post 1.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th were given a $0.79 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.43%. Occidental Petroleum’s dividend payout ratio (DPR) is 63.07%.
A number of research analysts have recently commented on OXY shares. Tudor Pickering raised Occidental Petroleum from a “sell” rating to a “hold” rating and set a $41.00 price target on the stock in a report on Friday, January 3rd. Wells Fargo & Co raised their price target on Occidental Petroleum from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Mizuho raised Occidental Petroleum from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $58.00 in a report on Wednesday, January 8th. Zacks Investment Research raised Occidental Petroleum from a “strong sell” rating to a “hold” rating and set a $34.00 price target on the stock in a report on Tuesday, October 15th. Finally, UBS Group raised their price target on Occidental Petroleum from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Friday. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $57.22.
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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