Lenox Wealth Management Inc. increased its position in Occidental Petroleum Co. (NYSE:OXY) by 17.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,040 shares of the oil and gas producer’s stock after purchasing an additional 1,763 shares during the period. Lenox Wealth Management Inc.’s holdings in Occidental Petroleum were worth $544,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Occidental Petroleum by 238.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,150,909 shares of the oil and gas producer’s stock worth $57,868,000 after purchasing an additional 810,550 shares in the last quarter. Covenant Multifamily Offices LLC bought a new position in shares of Occidental Petroleum in the 2nd quarter worth $1,667,000. Alexandria Capital LLC lifted its holdings in shares of Occidental Petroleum by 7.5% in the 2nd quarter. Alexandria Capital LLC now owns 43,823 shares of the oil and gas producer’s stock worth $2,203,000 after purchasing an additional 3,071 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Occidental Petroleum in the 2nd quarter worth $21,620,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Occidental Petroleum by 20.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 206,006 shares of the oil and gas producer’s stock worth $9,161,000 after purchasing an additional 34,560 shares in the last quarter. Institutional investors own 85.41% of the company’s stock.
Several equities analysts have weighed in on OXY shares. Susquehanna Bancshares started coverage on Occidental Petroleum in a research note on Thursday, September 5th. They set a “positive” rating and a $55.00 price objective on the stock. Piper Jaffray Companies set a $59.00 price objective on Occidental Petroleum and gave the company a “buy” rating in a research note on Friday, August 16th. Goldman Sachs Group started coverage on Occidental Petroleum in a research note on Tuesday, August 27th. They set a “neutral” rating and a $52.50 price objective on the stock. Bank of America set a $80.00 price objective on Occidental Petroleum and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Zacks Investment Research upgraded Occidental Petroleum from a “strong sell” rating to a “hold” rating and set a $34.00 price objective on the stock in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum presently has an average rating of “Hold” and a consensus target price of $60.23.
In other Occidental Petroleum news, Director William R. Klesse bought 5,000 shares of the stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of $45.54 per share, for a total transaction of $227,700.00. Following the purchase, the director now directly owns 101,203 shares of the company’s stock, valued at approximately $4,608,784.62. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Margaret M. Foran bought 1,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $43.15 per share, for a total transaction of $43,150.00. The disclosure for this purchase can be found here. Insiders have bought a total of 23,500 shares of company stock worth $1,039,775 over the last quarter. Company insiders own 0.15% of the company’s stock.
Shares of NYSE OXY traded up $1.07 during mid-day trading on Friday, reaching $40.10. 13,536,442 shares of the company’s stock were exchanged, compared to its average volume of 8,366,604. The firm has a market capitalization of $37.44 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. Occidental Petroleum Co. has a 52 week low of $38.30 and a 52 week high of $74.29. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.33 and a quick ratio of 1.00. The firm has a 50-day moving average price of $42.48 and a two-hundred day moving average price of $48.31.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.30). The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.59 billion. Occidental Petroleum had a return on equity of 9.98% and a net margin of 6.34%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.77 earnings per share. As a group, sell-side analysts forecast that Occidental Petroleum Co. will post 2.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 7.88%. The ex-dividend date is Monday, December 9th. Occidental Petroleum’s payout ratio is 63.07%.
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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