American International Group Inc. Buys 71,469 Shares of Occidental Petroleum Co. (OXY)
American International Group Inc. boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 22.2% during the fourth quarter, HoldingsChannel reports. The firm owned 392,944 shares of the oil and gas producer’s stock after purchasing an additional 71,469 shares during the quarter. American International Group Inc.’s holdings in Occidental Petroleum were worth $28,944,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Tompkins Financial Corp boosted its holdings in Occidental Petroleum by 1.9% in the fourth quarter. Tompkins Financial Corp now owns 36,177 shares of the oil and gas producer’s stock worth $2,664,000 after acquiring an additional 661 shares in the last quarter. Koshinski Asset Management Inc. boosted its holdings in Occidental Petroleum by 3.8% in the fourth quarter. Koshinski Asset Management Inc. now owns 18,357 shares of the oil and gas producer’s stock worth $1,352,000 after acquiring an additional 679 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Occidental Petroleum by 25.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 3,549 shares of the oil and gas producer’s stock worth $261,000 after acquiring an additional 714 shares in the last quarter. Hermes Investment Management Ltd. boosted its holdings in Occidental Petroleum by 1.6% in the fourth quarter. Hermes Investment Management Ltd. now owns 45,172 shares of the oil and gas producer’s stock worth $3,327,000 after acquiring an additional 720 shares in the last quarter. Finally, Enterprise Financial Services Corp boosted its holdings in Occidental Petroleum by 68.5% in the third quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock worth $127,000 after acquiring an additional 806 shares in the last quarter. 79.86% of the stock is currently owned by institutional investors.
Occidental Petroleum Co. (OXY) opened at $68.16 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $52,160.00, a P/E ratio of 96.00, a P/E/G ratio of 4.02 and a beta of 0.53. Occidental Petroleum Co. has a 12-month low of $57.20 and a 12-month high of $78.09.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.52%. The ex-dividend date is Thursday, March 8th. Occidental Petroleum’s dividend payout ratio is currently 433.80%.
Several equities research analysts have weighed in on the company. Morgan Stanley raised their price target on Occidental Petroleum from $66.00 to $84.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Macquarie assumed coverage on Occidental Petroleum in a research note on Wednesday, January 17th. They issued a “neutral” rating for the company. Citigroup upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective for the company in a research note on Monday, January 22nd. Cowen set a $85.00 price objective on Occidental Petroleum and gave the stock a “buy” rating in a research note on Thursday, January 18th. Finally, Mizuho set a $79.00 price objective on Occidental Petroleum and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Occidental Petroleum has an average rating of “Hold” and a consensus target price of $70.60.
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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