D.A. Davidson & CO. Lowers Position in Occidental Petroleum Corporation $OXY
D.A. Davidson & CO. cut its stake in shares of Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 33.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,152 shares of the oil and gas producer’s stock after selling 11,531 shares during the period. D.A. Davidson & CO.’s holdings in Occidental Petroleum were worth $973,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of OXY. Vanguard Group Inc. lifted its position in Occidental Petroleum by 17.8% during the first quarter. Vanguard Group Inc. now owns 80,230,989 shares of the oil and gas producer’s stock valued at $3,960,202,000 after purchasing an additional 12,107,285 shares in the last quarter. Nuveen LLC bought a new position in shares of Occidental Petroleum in the first quarter worth about $99,853,000. Dimensional Fund Advisors LP boosted its stake in shares of Occidental Petroleum by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,128,136 shares of the oil and gas producer’s stock worth $401,162,000 after acquiring an additional 710,220 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Occidental Petroleum by 926.9% in the first quarter. Canada Pension Plan Investment Board now owns 777,564 shares of the oil and gas producer’s stock worth $38,381,000 after acquiring an additional 701,846 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Occidental Petroleum in the second quarter worth about $28,584,000. 88.70% of the stock is currently owned by hedge funds and other institutional investors.
Occidental Petroleum Trading Down 0.6%
Shares of OXY stock opened at $42.31 on Tuesday. Occidental Petroleum Corporation has a 1 year low of $34.78 and a 1 year high of $53.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.05 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $45.17 and its two-hundred day simple moving average is $43.52. The company has a market cap of $41.65 billion, a PE ratio of 25.03 and a beta of 0.95.
Occidental Petroleum (NYSE:OXY — Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Occidental Petroleum had a return on equity of 13.78% and a net margin of 8.79%.The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Research analysts predict that Occidental Petroleum Corporation will post 3.58 earnings per share for the current year.
Occidental Petroleum Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, September 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.3%. Occidental Petroleum’s dividend payout ratio is 56.80%.
Analyst Ratings Changes
OXY has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Occidental Petroleum in a research note on Wednesday, October 8th. Evercore ISI dropped their price objective on Occidental Petroleum from $40.00 to $38.00 and set an “underperform” rating for the company in a research note on Friday, October 3rd. Scotiabank upped their price objective on Occidental Petroleum from $45.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Bank of America upped their price objective on Occidental Petroleum from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Finally, Hsbc Global Res raised Occidental Petroleum from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average price target of $52.26.
View Our Latest Research Report on Occidental Petroleum
Occidental Petroleum Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company’s Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
Further Reading
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