Occidental Petroleum Corporation (NYSE:OXY) Shares Sold by American Century Companies Inc.
American Century Companies Inc. trimmed its position in Occidental Petroleum Corporation (NYSE:OXY — Free Report) by 20.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,905,412 shares of the oil and gas producer’s stock after selling 757,034 shares during the period. American Century Companies Inc. owned about 0.30% of Occidental Petroleum worth $143,411,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in Occidental Petroleum in the 1st quarter worth approximately $1,274,000. Kestra Private Wealth Services LLC lifted its stake in Occidental Petroleum by 5.6% in the 1st quarter. Kestra Private Wealth Services LLC now owns 17,086 shares of the oil and gas producer’s stock worth $843,000 after purchasing an additional 906 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Occidental Petroleum by 9.7% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,596,699 shares of the oil and gas producer’s stock worth $78,813,000 after purchasing an additional 140,528 shares in the last quarter. Northern Trust Corp lifted its stake in Occidental Petroleum by 7.5% in the 4th quarter. Northern Trust Corp now owns 7,065,061 shares of the oil and gas producer’s stock worth $349,085,000 after purchasing an additional 491,797 shares in the last quarter. Finally, swisspartners Advisors Ltd purchased a new stake in shares of Occidental Petroleum during the 1st quarter valued at approximately $6,006,000. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Barclays lifted their price target on shares of Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, May 8th. Mizuho reduced their price target on shares of Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. lifted their price target on shares of Occidental Petroleum from $47.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, July 15th. Wells Fargo & Company reduced their price target on shares of Occidental Petroleum from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 15th. Finally, Citigroup lifted their price target on shares of Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Monday, May 19th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $53.71.
Read Our Latest Report on Occidental Petroleum
Occidental Petroleum Stock Down 0.4%
Shares of NYSE OXY opened at $44.61 on Friday. The business’s 50 day moving average is $44.17 and its two-hundred day moving average is $44.16. The firm has a market cap of $43.92 billion, a price-to-earnings ratio of 26.40 and a beta of 0.91. The company has a quick ratio of 0.83, a current ratio of 1.05 and a debt-to-equity ratio of 0.84. Occidental Petroleum Corporation has a 52-week low of $34.78 and a 52-week high of $58.47.
Occidental Petroleum (NYSE:OXY — Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas producer reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.29 billion. Occidental Petroleum had a net margin of 8.79% and a return on equity of 13.78%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 earnings per share. Research analysts predict that Occidental Petroleum Corporation will post 3.58 EPS for the current year.
Occidental Petroleum Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, September 10th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.2%. Occidental Petroleum’s payout ratio is 56.80%.
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, 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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