Rhumbline Advisers Acquires 79,005 Shares of Occidental Petroleum Co. (NYSE:OXY)
Rhumbline Advisers raised its position in Occidental Petroleum Co. (NYSE:OXY — Free Report) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,202,070 shares of the oil and gas producer’s stock after buying an additional 79,005 shares during the quarter. Rhumbline Advisers owned about 0.12% of Occidental Petroleum worth $59,334,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at $26,000. Whipplewood Advisors LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at $27,000. VSM Wealth Advisory LLC bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at $27,000. Bernard Wealth Management Corp. bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at $32,000. Finally, Atala Financial Inc bought a new stake in shares of Occidental Petroleum in the fourth quarter valued at $40,000. 88.70% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
OXY has been the topic of several research reports. Mizuho lowered their target price on Occidental Petroleum from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. UBS Group decreased their price objective on Occidental Petroleum from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Barclays boosted their price objective on Occidental Petroleum from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. decreased their price objective on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Finally, Susquehanna decreased their price objective on Occidental Petroleum from $59.00 to $55.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $53.14.
Get Our Latest Research Report on Occidental Petroleum
Occidental Petroleum Trading Up 1.6%
OXY opened at $41.44 on Tuesday. The business has a 50 day simple moving average of $41.32 and a two-hundred day simple moving average of $46.25. The firm has a market capitalization of $40.78 billion, a price-to-earnings ratio of 16.98 and a beta of 0.81. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.95 and a quick ratio of 0.76. Occidental Petroleum Co. has a one year low of $34.79 and a one year high of $64.76.
Occidental Petroleum (NYSE:OXY — Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. The company had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. Occidental Petroleum had a return on equity of 16.33% and a net margin of 11.37%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 EPS. Analysts predict that Occidental Petroleum Co. 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 Tuesday, July 15th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $0.96 dividend on an annualized basis and a yield of 2.32%. Occidental Petroleum’s dividend payout ratio is presently 39.02%.
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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