KG&L Capital Management LLC Purchases 7,232 Shares of Occidental Petroleum Co. (OXY)
KG&L Capital Management LLC grew its position in shares of Occidental Petroleum Co. (NYSE:OXY) by 68.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,843 shares of the oil and gas producer’s stock after acquiring an additional 7,232 shares during the quarter. Occidental Petroleum accounts for 1.2% of KG&L Capital Management LLC’s holdings, making the stock its 22nd biggest position. KG&L Capital Management LLC’s holdings in Occidental Petroleum were worth $1,180,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc boosted its holdings in shares of Occidental Petroleum by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 62,477,713 shares of the oil and gas producer’s stock valued at $5,133,793,000 after buying an additional 1,370,841 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Occidental Petroleum by 7.9% during the 4th quarter. Macquarie Group Ltd. now owns 10,146,677 shares of the oil and gas producer’s stock valued at $622,804,000 after purchasing an additional 744,802 shares during the last quarter. Northern Trust Corp lifted its holdings in Occidental Petroleum by 2.6% during the 4th quarter. Northern Trust Corp now owns 9,890,631 shares of the oil and gas producer’s stock valued at $607,087,000 after purchasing an additional 246,720 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Occidental Petroleum by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 9,152,375 shares of the oil and gas producer’s stock valued at $560,842,000 after purchasing an additional 316,507 shares during the last quarter. Finally, Norges Bank acquired a new stake in Occidental Petroleum during the 4th quarter valued at $475,929,000. 84.05% of the stock is owned by hedge funds and other institutional investors.
OXY stock opened at $53.96 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The firm has a market cap of $40.51 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 2.83 and a beta of 0.76. Occidental Petroleum Co. has a fifty-two week low of $53.12 and a fifty-two week high of $87.67.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 5.78%. The ex-dividend date of this dividend is Friday, June 7th. Occidental Petroleum’s payout ratio is 62.28%.
Several equities research analysts have issued reports on the company. ValuEngine raised Occidental Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Zacks Investment Research raised Occidental Petroleum from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 5th. Citigroup downgraded Occidental Petroleum from a “buy” rating to a “neutral” rating and cut their price target for the company from $80.00 to $72.00 in a report on Tuesday, February 19th. Oppenheimer assumed coverage on Occidental Petroleum in a report on Wednesday, March 27th. They set a “market perform” rating for the company. Finally, Mizuho reaffirmed a “buy” rating and set a $82.00 price target on shares of Occidental Petroleum in a report on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $77.66.
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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