FNY Investment Advisers LLC boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 20,062.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,226 shares of the oil and gas producer’s stock after acquiring an additional 3,210 shares during the period. FNY Investment Advisers LLC’s holdings in Occidental Petroleum were worth $264,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Standard Life Aberdeen plc increased its stake in shares of Occidental Petroleum by 1,541.0% in the 2nd quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock valued at $634,716,000 after purchasing an additional 7,122,373 shares during the last quarter. Adams Asset Advisors LLC increased its stake in shares of Occidental Petroleum by 7.9% in the 2nd quarter. Adams Asset Advisors LLC now owns 6,789,866 shares of the oil and gas producer’s stock valued at $568,175,000 after purchasing an additional 500,000 shares during the last quarter. FMR LLC increased its stake in shares of Occidental Petroleum by 232.5% in the 2nd quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock valued at $506,194,000 after purchasing an additional 4,230,065 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Occidental Petroleum by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,735,322 shares of the oil and gas producer’s stock valued at $479,928,000 after purchasing an additional 490,346 shares during the last quarter. Finally, Levin Capital Strategies L.P. increased its stake in shares of Occidental Petroleum by 11.8% in the 3rd quarter. Levin Capital Strategies L.P. now owns 3,365,150 shares of the oil and gas producer’s stock valued at $276,514,000 after purchasing an additional 356,312 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.
Several equities analysts have recently issued reports on OXY shares. Piper Jaffray Companies started coverage on Occidental Petroleum in a research note on Friday, September 28th. They issued an “overweight” rating on the stock. Morgan Stanley set a $101.00 price objective on Occidental Petroleum and gave the company a “buy” rating in a report on Friday, October 12th. Raymond James raised Occidental Petroleum from an “outperform” rating to a “strong-buy” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. cut their price objective on Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, August 10th. Finally, Mitsubishi UFJ Financial Group cut their price objective on Occidental Petroleum to $92.00 and set a “neutral” rating on the stock in a report on Tuesday, October 16th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $86.35.
OXY traded up $1.78 during midday trading on Thursday, hitting $72.08. 4,505,480 shares of the company were exchanged, compared to its average volume of 5,917,571. The company has a market capitalization of $53.08 billion, a PE ratio of 80.99, a PEG ratio of 2.27 and a beta of 0.80. Occidental Petroleum Co. has a 1-year low of $62.47 and a 1-year high of $87.67. The company has a current ratio of 1.33, a quick ratio of 1.21 and a debt-to-equity ratio of 0.47.
Occidental Petroleum (NYSE:OXY) last announced its earnings results on Monday, November 5th. The oil and gas producer reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.26. The firm had revenue of $6.18 billion for the quarter, compared to the consensus estimate of $4.60 billion. Occidental Petroleum had a return on equity of 15.43% and a net margin of 22.19%. The business’s quarterly revenue was up 98.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.18 EPS. Equities research analysts predict that Occidental Petroleum Co. will post 5.17 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 10th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Friday, December 7th. Occidental Petroleum’s payout ratio is presently 350.56%.
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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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