First Trust Advisors LP lifted its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 213.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 396,694 shares of the oil and gas producer’s stock after buying an additional 269,964 shares during the quarter. First Trust Advisors LP owned approximately 0.05% of Occidental Petroleum worth $33,195,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of OXY. Wetherby Asset Management Inc. grew its holdings in Occidental Petroleum by 7.7% in the second quarter. Wetherby Asset Management Inc. now owns 9,789 shares of the oil and gas producer’s stock valued at $820,000 after purchasing an additional 703 shares during the period. TCW Group Inc. grew its holdings in Occidental Petroleum by 3.4% in the second quarter. TCW Group Inc. now owns 21,697 shares of the oil and gas producer’s stock valued at $1,815,000 after purchasing an additional 705 shares during the period. YHB Investment Advisors Inc. grew its holdings in Occidental Petroleum by 1.8% in the second quarter. YHB Investment Advisors Inc. now owns 40,545 shares of the oil and gas producer’s stock valued at $3,393,000 after purchasing an additional 706 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Occidental Petroleum by 0.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 133,331 shares of the oil and gas producer’s stock valued at $8,661,000 after purchasing an additional 716 shares during the period. Finally, Maple Capital Management Inc. grew its holdings in Occidental Petroleum by 1.1% in the first quarter. Maple Capital Management Inc. now owns 68,356 shares of the oil and gas producer’s stock valued at $4,440,000 after purchasing an additional 730 shares during the period. Institutional investors and hedge funds own 80.77% of the company’s stock.
Shares of Occidental Petroleum opened at $78.78 on Friday, Marketbeat reports. The company has a market cap of $62.18 billion, a price-to-earnings ratio of 88.52, a price-to-earnings-growth ratio of 2.61 and a beta of 0.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.26. Occidental Petroleum Co. has a fifty-two week low of $58.44 and a fifty-two week high of $87.67.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.11). Occidental Petroleum had a return on equity of 9.71% and a net margin of 15.36%. The firm had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.13 billion. During the same period in the previous year, the firm posted $0.15 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. equities research analysts anticipate that Occidental Petroleum Co. will post 4.9 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 10th will be given a dividend of $0.78 per share. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.77. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Friday, September 7th. Occidental Petroleum’s payout ratio is presently 346.07%.
A number of equities research analysts recently issued reports on OXY shares. TheStreet upgraded shares of Occidental Petroleum from a “c+” rating to a “b” rating in a report on Tuesday, May 8th. Mizuho reaffirmed a “buy” rating on shares of Occidental Petroleum in a research report on Tuesday, July 24th. Jefferies Financial Group raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating and lifted their price target for the company from $87.00 to $98.00 in a research report on Monday, June 11th. Citigroup raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 5th. Finally, ValuEngine raised shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $83.27.
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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