Pioneer Investment Management Inc. Has $27.54 Million Position in Occidental Petroleum Co. (OXY)
Pioneer Investment Management Inc. cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 460,059 shares of the oil and gas producer’s stock after selling 762 shares during the period. Pioneer Investment Management Inc. owned about 0.06% of Occidental Petroleum worth $27,544,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in OXY. State of Alaska Department of Revenue acquired a new position in Occidental Petroleum during the first quarter worth approximately $584,000. Ferguson Wellman Capital Management Inc. boosted its position in Occidental Petroleum by 24.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 732,805 shares of the oil and gas producer’s stock worth $46,430,000 after buying an additional 145,930 shares during the period. Guardian Investment Management acquired a new position in Occidental Petroleum during the first quarter worth approximately $856,000. Mn Services Vermogensbeheer B.V. boosted its position in Occidental Petroleum by 3.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 20,380 shares of the oil and gas producer’s stock worth $1,207,000 after buying an additional 622 shares during the period. Finally, Guinness Asset Management Ltd boosted its position in Occidental Petroleum by 21.6% in the first quarter. Guinness Asset Management Ltd now owns 185,750 shares of the oil and gas producer’s stock worth $11,769,000 after buying an additional 33,000 shares during the period. 81.42% of the stock is owned by hedge funds and other institutional investors.
Shares of Occidental Petroleum Co. (NYSE OXY) opened at 59.22 on Friday. The firm has a 50 day moving average price of $60.41 and a 200-day moving average price of $61.97. Occidental Petroleum Co. has a 52-week low of $57.20 and a 52-week high of $78.48. The company has a market cap of $45.28 billion, a price-to-earnings ratio of 417.04 and a beta of 0.65.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Occidental Petroleum had a net margin of 10.38% and a return on equity of 9.62%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the prior year, the company posted ($0.18) EPS. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. Equities research analysts anticipate that Occidental Petroleum Co. will post $0.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be given a $0.77 dividend. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.76. This represents a $3.08 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Friday, September 8th. Occidental Petroleum’s dividend payout ratio is 2,338.46%.
A number of equities analysts have recently commented on the company. Scotiabank reissued a “hold” rating and set a $68.00 price target on shares of Occidental Petroleum in a report on Monday, May 15th. Zacks Investment Research raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. BMO Capital Markets set a $65.00 price target on Occidental Petroleum and gave the stock a “hold” rating in a report on Thursday, May 4th. Jefferies Group LLC reissued a “hold” rating and set a $64.00 price target on shares of Occidental Petroleum in a report on Friday, June 23rd. Finally, BidaskClub raised Occidental Petroleum from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $65.57.
In other news, CFO Cedric W. Burgher acquired 1,700 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, June 7th. The shares were bought at an average cost of $59.85 per share, with a total value of $101,745.00. Following the transaction, the chief financial officer now directly owns 44,124 shares of the company’s stock, valued at approximately $2,640,821.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William R. Klesse acquired 10,000 shares of Occidental Petroleum stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average cost of $61.58 per share, for a total transaction of $615,800.00. Following the completion of the transaction, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The disclosure for this purchase can be found here. Corporate insiders own 0.32% of the company’s stock.
Occidental Petroleum Company Profile
Occidental Petroleum Corporation (Occidental) is an oil and gas exploration and production company. The Company operates through three segments: oil and gas, chemical (OxyChem), 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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