Occidental Petroleum Co. (NYSE:OXY) Shares Bought by Rafferty Asset Management LLC
Rafferty Asset Management LLC grew its holdings in shares of Occidental Petroleum Co. (NYSE:OXY — Free Report) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 289,201 shares of the oil and gas producer’s stock after purchasing an additional 14,070 shares during the period. Rafferty Asset Management LLC’s holdings in Occidental Petroleum were worth $14,289,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $27,000. VSM Wealth Advisory LLC acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $27,000. Atala Financial Inc acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $40,000. Finally, Millstone Evans Group LLC acquired a new position in Occidental Petroleum during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 88.70% of the company’s stock.
Occidental Petroleum Trading Down 0.8%
Shares of Occidental Petroleum stock opened at $43.02 on Friday. Occidental Petroleum Co. has a fifty-two week low of $34.79 and a fifty-two week high of $64.76. The firm has a market cap of $42.34 billion, a PE ratio of 17.63 and a beta of 0.81. The business’s fifty day moving average is $42.69 and its two-hundred day moving average is $47.00. The company has a quick ratio of 0.76, a current ratio of 0.95 and a debt-to-equity ratio of 0.95.
Occidental Petroleum (NYSE:OXY — Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.97 billion. During the same quarter in the prior year, the company posted $0.63 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts anticipate that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.
Occidental Petroleum Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, June 10th. Occidental Petroleum’s dividend payout ratio is presently 39.02%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. StockNews.com cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, February 27th. Piper Sandler lowered their price target on Occidental Petroleum from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Stephens lowered their price target on Occidental Petroleum from $60.00 to $58.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Mizuho lowered their price target on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Barclays upped their price target on Occidental Petroleum from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Occidental Petroleum presently has an average rating of “Hold” and an average target price of $53.48.
Get Our Latest Analysis on OXY
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.
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