BRYN MAWR TRUST Co Buys 2,920 Shares of Occidental Petroleum Co. (OXY)
BRYN MAWR TRUST Co boosted its stake in Occidental Petroleum Co. (NYSE:OXY) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 181,315 shares of the oil and gas producer’s stock after acquiring an additional 2,920 shares during the period. BRYN MAWR TRUST Co’s holdings in Occidental Petroleum were worth $15,172,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Standard Life Aberdeen plc increased its position in Occidental Petroleum by 1,541.0% during the 2nd quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock worth $634,716,000 after purchasing an additional 7,122,373 shares during the period. FMR LLC increased its position in Occidental Petroleum by 232.5% during the 2nd quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock worth $506,194,000 after purchasing an additional 4,230,065 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new position in Occidental Petroleum during the 2nd quarter worth approximately $241,052,000. AGF Investments Inc. acquired a new position in Occidental Petroleum during the 2nd quarter worth approximately $93,394,000. Finally, PNC Financial Services Group Inc. increased its position in Occidental Petroleum by 172.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,722,476 shares of the oil and gas producer’s stock worth $111,893,000 after purchasing an additional 1,089,145 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.
In other news, Director William R. Klesse purchased 5,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were acquired at an average price of $78.55 per share, with a total value of $392,750.00. Following the purchase, the director now directly owns 77,963 shares of the company’s stock, valued at $6,123,993.65. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by insiders.
Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported $1.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.11). The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Occidental Petroleum had a return on equity of 9.68% and a net margin of 15.36%. Occidental Petroleum’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. analysts expect that Occidental Petroleum Co. will post 4.83 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 10th will be paid a dividend of $0.78 per share. This is a positive change from Occidental Petroleum’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Friday, September 7th. This represents a $3.12 annualized dividend and a dividend yield of 4.07%. Occidental Petroleum’s payout ratio is 346.07%.
OXY has been the topic of several recent analyst reports. Jefferies Financial Group upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and boosted their target price for the stock from $87.00 to $98.00 in a research report on Monday, June 11th. Mizuho initiated coverage on Occidental Petroleum in a research report on Friday, June 8th. They set a “buy” rating and a $102.00 target price on the stock. Citigroup upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 5th. Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Monday, May 14th. Finally, Bank of America boosted their target price on Occidental Petroleum from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, August 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $83.60.
About Occidental Petroleum
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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