Fisher Asset Management LLC Sells 153,447 Shares of Occidental Petroleum Corporation $OXY
Fisher Asset Management LLC lessened its position in shares of Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 91.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,910 shares of the oil and gas producer’s stock after selling 153,447 shares during the period. Fisher Asset Management LLC’s holdings in Occidental Petroleum were worth $626,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in OXY. Federated Hermes Inc. boosted its position in Occidental Petroleum by 18.8% during the first quarter. Federated Hermes Inc. now owns 3,012 shares of the oil and gas producer’s stock worth $149,000 after purchasing an additional 477 shares during the period. Cary Street Partners Financial LLC lifted its stake in shares of Occidental Petroleum by 338.3% during the 1st quarter. Cary Street Partners Financial LLC now owns 14,596 shares of the oil and gas producer’s stock valued at $720,000 after buying an additional 11,266 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Occidental Petroleum by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,432,722 shares of the oil and gas producer’s stock worth $218,799,000 after buying an additional 195,742 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Occidental Petroleum by 12.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,194,192 shares of the oil and gas producer’s stock valued at $58,945,000 after buying an additional 130,838 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Occidental Petroleum by 10.8% during the 1st quarter. Swiss National Bank now owns 1,985,014 shares of the oil and gas producer’s stock valued at $97,980,000 after acquiring an additional 194,100 shares during the period. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Occidental Petroleum from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Wells Fargo & Company cut their target price on Occidental Petroleum from $42.00 to $40.00 and set an “underweight” rating for the company in a research note on Wednesday, November 12th. HSBC decreased their price target on Occidental Petroleum from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Melius Research began coverage on shares of Occidental Petroleum in a research report on Wednesday, August 20th. They issued a “hold” rating and a $64.00 price objective for the company. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 target price on shares of Occidental Petroleum in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.52.
Get Our Latest Stock Report on OXY
Occidental Petroleum Stock Down 0.6%
OXY stock opened at $42.42 on Friday. The company’s 50 day moving average is $42.38 and its 200 day moving average is $43.74. The stock has a market cap of $41.79 billion, a price-to-earnings ratio of 31.19 and a beta of 0.39. The company has a current ratio of 0.94, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. Occidental Petroleum Corporation has a 1-year low of $34.78 and a 1-year high of $53.20.
Occidental Petroleum (NYSE:OXY — Get Free Report) last announced its earnings results on Monday, November 10th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.16. Occidental Petroleum had a net margin of 7.81% and a return on equity of 12.35%. The business had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same period in the previous year, the business posted $1.00 earnings per share. Occidental Petroleum’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current fiscal year.
Occidental Petroleum Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 10th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, December 10th. Occidental Petroleum’s payout ratio is currently 70.59%.
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, 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.
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