Occidental Petroleum Corporation (OXY) Holdings Boosted by Lenox Wealth Management Inc.
Lenox Wealth Management Inc. raised its stake in shares of Occidental Petroleum Corporation (NYSE:OXY) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,769 shares of the oil and gas producer’s stock after purchasing an additional 866 shares during the period. Lenox Wealth Management Inc.’s holdings in Occidental Petroleum were worth $764,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of OXY. Capital Research Global Investors acquired a new stake in shares of Occidental Petroleum in the second quarter valued at about $179,610,000. Epoch Investment Partners Inc. raised its position in shares of Occidental Petroleum by 22.0% in the third quarter. Epoch Investment Partners Inc. now owns 8,103,731 shares of the oil and gas producer’s stock valued at $520,341,000 after buying an additional 1,461,761 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Occidental Petroleum by 119.6% in the second quarter. Principal Financial Group Inc. now owns 2,372,784 shares of the oil and gas producer’s stock valued at $142,058,000 after buying an additional 1,292,162 shares during the last quarter. Federated Investors Inc. PA raised its position in shares of Occidental Petroleum by 18.0% in the second quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after buying an additional 1,152,152 shares during the last quarter. Finally, Flossbach Von Storch AG raised its position in shares of Occidental Petroleum by 179.7% in the second quarter. Flossbach Von Storch AG now owns 1,765,645 shares of the oil and gas producer’s stock valued at $105,709,000 after buying an additional 1,134,445 shares during the last quarter. 80.34% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the stock. Cowen reiterated a “buy” rating and issued a $75.00 target price on shares of Occidental Petroleum in a research report on Tuesday, August 22nd. Mizuho reiterated a “hold” rating and issued a $64.00 target price on shares of Occidental Petroleum in a research report on Friday, November 3rd. Bank of America increased their target price on shares of Occidental Petroleum from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Goldman Sachs Group upgraded shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Friday, November 17th. Finally, Zacks Investment Research cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research report on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $67.27.
Occidental Petroleum Corporation (NYSE:OXY) traded down $0.73 during trading on Thursday, reaching $69.27. 3,304,800 shares of the company traded hands, compared to its average volume of 4,506,833. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $73.51. The firm has a market capitalization of $53,567.18, a PE ratio of 200.00, a P/E/G ratio of 14.20 and a beta of 0.65. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the business earned ($0.15) earnings per share. Occidental Petroleum’s revenue was up 13.3% compared to the same quarter last year. research analysts anticipate that Occidental Petroleum Corporation will post 0.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum’s dividend payout ratio is presently 440.00%.
Occidental Petroleum 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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