Advisory Services Network LLC raised its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 13.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,368 shares of the oil and gas producer’s stock after buying an additional 1,328 shares during the quarter. Advisory Services Network LLC’s holdings in Occidental Petroleum were worth $935,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of the stock. Standard Life Aberdeen plc lifted its stake in Occidental Petroleum by 1,541.0% during the second quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock worth $634,716,000 after purchasing an additional 7,122,373 shares during the last quarter. FMR LLC lifted its stake in Occidental Petroleum by 232.5% during the second quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock worth $506,194,000 after purchasing an additional 4,230,065 shares during the last quarter. Charles Schwab Investment Advisory Inc. bought a new stake in Occidental Petroleum during the second quarter worth about $241,052,000. Swedbank bought a new stake in Occidental Petroleum during the third quarter worth about $112,990,000. Finally, Mainstay Capital Management LLC ADV lifted its stake in Occidental Petroleum by 3,725.2% during the second quarter. Mainstay Capital Management LLC ADV now owns 1,198,297 shares of the oil and gas producer’s stock worth $15,434,000 after purchasing an additional 1,166,971 shares during the last quarter. Institutional investors and hedge funds own 80.95% of the company’s stock.
OXY has been the subject of a number of recent research reports. Mitsubishi UFJ Financial Group lowered their target price on Occidental Petroleum to $92.00 and set a “neutral” rating for the company in a research note on Tuesday, October 16th. Piper Jaffray Companies initiated coverage on Occidental Petroleum in a research note on Friday, September 28th. They issued an “overweight” rating for the company. Morgan Stanley initiated coverage on Occidental Petroleum in a research note on Thursday, July 12th. They issued an “overweight” rating and a $100.00 target price for the company. Raymond James raised Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a research note on Monday, October 22nd. They noted that the move was a valuation call. Finally, ValuEngine lowered Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $84.00.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.26. The business had revenue of $6.18 billion during the quarter, compared to analyst estimates of $4.60 billion. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. Occidental Petroleum’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 EPS. Equities research analysts forecast that Occidental Petroleum Co. will post 5.08 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 10th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Friday, December 7th. Occidental Petroleum’s payout ratio is 350.56%.
In other Occidental Petroleum news, Director William R. Klesse purchased 5,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 77,963 shares of the company’s stock, valued at approximately $6,123,993.65. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.32% 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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