Vestmark Advisory Solutions Inc. boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 105.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,247 shares of the oil and gas producer’s stock after purchasing an additional 10,370 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Occidental Petroleum were worth $900,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Occidental Petroleum by 39.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 33,365,328 shares of the oil and gas producer’s stock worth $1,677,609,000 after buying an additional 9,386,180 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Occidental Petroleum by 24.6% during the second quarter. Macquarie Group Ltd. now owns 13,311,398 shares of the oil and gas producer’s stock worth $669,297,000 after buying an additional 2,630,424 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Occidental Petroleum by 0.4% during the second quarter. Morgan Stanley now owns 8,002,841 shares of the oil and gas producer’s stock worth $402,383,000 after buying an additional 28,283 shares in the last quarter. Charles Schwab Investment Advisory Inc. lifted its holdings in shares of Occidental Petroleum by 86.7% during the second quarter. Charles Schwab Investment Advisory Inc. now owns 5,839,718 shares of the oil and gas producer’s stock worth $293,621,000 after buying an additional 2,712,579 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Occidental Petroleum by 12.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,215,304 shares of the oil and gas producer’s stock worth $211,946,000 after buying an additional 466,208 shares in the last quarter. 71.09% of the stock is owned by hedge funds and other institutional investors.
OXY stock traded down $0.32 during midday trading on Wednesday, reaching $38.12. The company had a trading volume of 9,386,447 shares, compared to its average volume of 8,419,771. The company has a market capitalization of $35.82 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 3.71 and a beta of 0.85. The stock has a 50 day moving average price of $41.97 and a 200-day moving average price of $47.85. Occidental Petroleum Co. has a 1-year low of $37.96 and a 1-year high of $73.64. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.33 and a quick ratio of 1.23.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 8.29%. The ex-dividend date of this dividend is Monday, December 9th. Occidental Petroleum’s payout ratio is 63.07%.
A number of equities research analysts have recently weighed in on the company. Wells Fargo & Co dropped their target price on Occidental Petroleum from $53.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, August 16th. Piper Jaffray Companies set a $59.00 target price on Occidental Petroleum and gave the stock a “buy” rating in a report on Friday, August 16th. Morgan Stanley dropped their target price on Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, October 4th. SunTrust Banks assumed coverage on Occidental Petroleum in a report on Monday, September 23rd. They set a “hold” rating and a $48.00 target price for the company. Finally, ValuEngine raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Occidental Petroleum has a consensus rating of “Hold” and a consensus target price of $59.08.
In other Occidental Petroleum news, insider Oscar K. Brown bought 5,000 shares of the stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $42.62 per share, with a total value of $213,100.00. Following the completion of the purchase, the insider now owns 114,519 shares in the company, valued at $4,880,799.78. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William R. Klesse bought 12,000 shares of the stock in a transaction on Friday, November 8th. The shares were acquired at an average cost of $39.31 per share, with a total value of $471,720.00. Following the purchase, the director now owns 113,203 shares of the company’s stock, valued at approximately $4,450,009.93. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 27,000 shares of company stock valued at $1,135,370. Insiders own 0.15% of the company’s stock.
About Occidental Petroleum
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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