Fruth Investment Management increased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,118 shares of the oil and gas producer’s stock after buying an additional 200 shares during the period. Fruth Investment Management’s holdings in Occidental Petroleum were worth $272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Confluence Investment Management LLC purchased a new position in shares of Occidental Petroleum during the 1st quarter valued at approximately $254,000. South Texas Money Management Ltd. lifted its position in shares of Occidental Petroleum by 9.5% during the 1st quarter. South Texas Money Management Ltd. now owns 581,179 shares of the oil and gas producer’s stock valued at $38,474,000 after buying an additional 50,389 shares in the last quarter. Spectrum Asset Management Inc. NB CA acquired a new position in Occidental Petroleum in the 1st quarter valued at $244,000. Steinberg Global Asset Management increased its stake in shares of Occidental Petroleum by 44.6% in the 1st quarter. Steinberg Global Asset Management now owns 97,686 shares of the oil and gas producer’s stock worth $6,346,000 after acquiring an additional 30,150 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in shares of Occidental Petroleum by 1.5% in the 1st quarter. Raymond James Trust N.A. now owns 143,495 shares of the oil and gas producer’s stock worth $9,499,000 after acquiring an additional 2,110 shares during the last quarter. Hedge funds and other institutional investors own 84.34% of the company’s stock.
OXY has been the subject of a number of recent research reports. KeyCorp initiated coverage on Occidental Petroleum in a research note on Thursday, December 20th. They issued an “overweight” rating and a $75.00 target price for the company. Capital One Financial downgraded Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. Atlantic Securities raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and set a $85.00 target price for the company in a research note on Friday, December 21st. Zacks Investment Research downgraded Occidental Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, January 11th. Finally, Mizuho reaffirmed a “buy” rating and issued a $82.00 target price on shares of Occidental Petroleum in a research note on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum presently has an average rating of “Buy” and an average target price of $83.80.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the prior year, the business posted $0.41 EPS. The company’s revenue was up 33.8% compared to the same quarter last year. As a group, equities analysts expect that Occidental Petroleum Co. will post 3.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 11th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date was Friday, March 8th. Occidental Petroleum’s dividend payout ratio (DPR) is 62.28%.
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About Occidental Petroleum
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.
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