3,000,000 Shares in Occidental Petroleum Corporation (OXY) Purchased by Capital Research Global Investors
Capital Research Global Investors acquired a new position in Occidental Petroleum Corporation (NYSE:OXY) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,000,000 shares of the oil and gas producer’s stock, valued at approximately $179,610,000. Capital Research Global Investors owned approximately 0.39% of Occidental Petroleum Corporation at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of OXY. Empire Life Investments Inc. acquired a new position in Occidental Petroleum Corporation in the 1st quarter worth $8,743,000. Thomaspartners Inc. lifted its holdings in Occidental Petroleum Corporation by 14.3% in the 1st quarter. Thomaspartners Inc. now owns 2,375,375 shares of the oil and gas producer’s stock worth $150,504,000 after buying an additional 296,304 shares in the last quarter. Karp Capital Management Corp acquired a new position in Occidental Petroleum Corporation in the 1st quarter worth $11,922,000. First Foundation Advisors lifted its holdings in Occidental Petroleum Corporation by 16.6% in the 1st quarter. First Foundation Advisors now owns 190,606 shares of the oil and gas producer’s stock worth $12,077,000 after buying an additional 27,074 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Occidental Petroleum Corporation by 11.2% in the 1st quarter. Sei Investments Co. now owns 602,596 shares of the oil and gas producer’s stock worth $38,180,000 after buying an additional 60,765 shares in the last quarter. Hedge funds and other institutional investors own 80.60% of the company’s stock.
In other news, Director William R. Klesse bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was acquired at an average price of $61.58 per share, for a total transaction of $615,800.00. Following the transaction, the director now directly owns 70,692 shares of the company’s stock, valued at approximately $4,353,213.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.32% of the company’s stock.
Occidental Petroleum Corporation (NYSE:OXY) traded down 0.31% on Thursday, reaching $64.19. 159,577 shares of the company’s stock traded hands. Occidental Petroleum Corporation has a 52-week low of $57.20 and a 52-week high of $75.60. The firm’s 50-day moving average is $61.38 and its 200 day moving average is $61.29. The stock has a market capitalization of $49.08 billion, a PE ratio of 452.04 and a beta of 0.67.
Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) EPS. Analysts forecast that Occidental Petroleum Corporation will post $0.65 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, September 8th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 4.78%. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is 2,369.23%.
A number of brokerages have commented on OXY. Cowen and Company reiterated a “buy” rating and issued a $80.00 price objective on shares of Occidental Petroleum Corporation in a report on Thursday, September 28th. Zacks Investment Research upgraded shares of Occidental Petroleum Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Jefferies Group LLC set a $58.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a report on Tuesday, August 29th. Piper Jaffray Companies set a $55.00 price objective on shares of Occidental Petroleum Corporation and gave the stock a “hold” rating in a report on Friday, August 25th. Finally, BidaskClub lowered shares of Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Occidental Petroleum Corporation currently has a consensus rating of “Hold” and a consensus price target of $65.50.
Occidental Petroleum Corporation 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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