B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund boosted its holdings in Occidental Petroleum Co. (NYSE:OXY) by 257.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,413 shares of the oil and gas producer’s stock after acquiring an additional 8,943 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Occidental Petroleum were worth $1,039,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Stelac Advisory Services LLC bought a new stake in Occidental Petroleum during the first quarter worth approximately $112,000. Kaizen Advisory LLC raised its holdings in Occidental Petroleum by 142.0% during the second quarter. Kaizen Advisory LLC now owns 1,793 shares of the oil and gas producer’s stock worth $150,000 after purchasing an additional 1,052 shares in the last quarter. Spectrum Management Group Inc. bought a new stake in Occidental Petroleum during the second quarter worth approximately $160,000. Smithfield Trust Co. raised its holdings in Occidental Petroleum by 367.1% during the second quarter. Smithfield Trust Co. now owns 1,971 shares of the oil and gas producer’s stock worth $164,000 after purchasing an additional 1,549 shares in the last quarter. Finally, NewSquare Capital LLC grew its position in Occidental Petroleum by 4,588.9% in the second quarter. NewSquare Capital LLC now owns 2,110 shares of the oil and gas producer’s stock worth $175,000 after buying an additional 2,065 shares during the last quarter. 80.04% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the stock. Mizuho restated a “buy” rating on shares of Occidental Petroleum in a research report on Tuesday, July 24th. Piper Jaffray Companies assumed coverage on shares of Occidental Petroleum in a research report on Friday, September 28th. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, August 10th. Jefferies Financial Group upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating and lifted their price target for the stock from $87.00 to $98.00 in a research report on Monday, June 11th. Finally, National Alliance Securities upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. Occidental Petroleum has an average rating of “Buy” and a consensus target price of $83.60.
Shares of OXY stock traded down $0.78 on Friday, hitting $81.40. The company’s stock had a trading volume of 3,254,515 shares, compared to its average volume of 4,830,651. The company has a current ratio of 1.36, a quick ratio of 1.19 and a debt-to-equity ratio of 0.49. Occidental Petroleum Co. has a fifty-two week low of $62.47 and a fifty-two week high of $87.67. The firm has a market cap of $62.84 billion, a PE ratio of 91.46, a PEG ratio of 3.01 and a beta of 0.58.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.11). Occidental Petroleum had a net margin of 15.36% and a return on equity of 9.68%. The business had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the previous year, the firm posted $0.15 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, analysts forecast that Occidental Petroleum Co. will post 4.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 10th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Friday, September 7th. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.77. Occidental Petroleum’s payout ratio is presently 350.56%.
In other news, Director William R. Klesse bought 5,000 shares of the business’s stock in a transaction on Monday, August 13th. The stock was purchased at an average price of $78.55 per share, with a total value of $392,750.00. Following the transaction, the director now directly owns 77,963 shares in the company, valued at $6,123,993.65. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by insiders.
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 and internationally. The company operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.
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