USS Investment Management Ltd Purchases New Shares in Occidental Petroleum Co. (NYSE:OXY)
USS Investment Management Ltd purchased a new stake in Occidental Petroleum Co. (NYSE:OXY — Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 44,404 shares of the oil and gas producer’s stock, valued at approximately $2,194,000.
A number of other institutional investors and hedge funds have also bought and sold shares of OXY. Altshuler Shaham Ltd purchased a new stake in Occidental Petroleum in the 4th quarter valued at $26,000. Whipplewood Advisors LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at $27,000. VSM Wealth Advisory LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at $27,000. Atala Financial Inc purchased a new stake in Occidental Petroleum in the 4th quarter valued at $40,000. Finally, Millstone Evans Group LLC purchased a new stake in Occidental Petroleum in the 4th quarter valued at $42,000. 88.70% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Wall Street Zen lowered Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, February 27th. Citigroup upped their price objective on Occidental Petroleum from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Monday, May 19th. Barclays upped 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. reduced their price objective on Occidental Petroleum from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Finally, Raymond James downgraded Occidental Petroleum from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $81.00 to $64.00 in a research note on Monday, March 10th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Occidental Petroleum currently has a consensus rating of “Hold” and an average price target of $53.14.
Occidental Petroleum Stock Up 0.5%
OXY stock opened at $41.30 on Friday. The stock has a fifty day moving average of $42.18 and a 200-day moving average of $46.70. The company has a market capitalization of $40.64 billion, a price-to-earnings ratio of 16.93 and a beta of 0.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 0.95. Occidental Petroleum Co. has a fifty-two week low of $34.79 and a fifty-two week high of $64.76.
Occidental Petroleum (NYSE:OXY — Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas producer reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The business had revenue of $6.80 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 EPS. As a group, equities research analysts predict that Occidental Petroleum Co. will post 3.58 earnings per share for the current year.
Occidental Petroleum Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.24 per share. The ex-dividend date 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 (DPR) is 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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