Ladenburg Thalmann Financial Services Inc. Lowers Stake in Occidental Petroleum Corporation (OXY)
Ladenburg Thalmann Financial Services Inc. reduced its position in Occidental Petroleum Corporation (NYSE:OXY) by 13.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 47,026 shares of the oil and gas producer’s stock after selling 7,284 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Occidental Petroleum were worth $3,017,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Beacon Investment Advisory Services Inc. acquired a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $1,122,000. Patten Group Inc. increased its stake in shares of Occidental Petroleum by 174.2% in the 3rd quarter. Patten Group Inc. now owns 41,535 shares of the oil and gas producer’s stock valued at $921,000 after buying an additional 26,388 shares during the period. Zions Bancorporation increased its stake in shares of Occidental Petroleum by 72.6% in the 3rd quarter. Zions Bancorporation now owns 18,814 shares of the oil and gas producer’s stock valued at $1,208,000 after buying an additional 7,916 shares during the period. Capital International Investors increased its stake in shares of Occidental Petroleum by 3.6% in the 3rd quarter. Capital International Investors now owns 8,273,652 shares of the oil and gas producer’s stock valued at $531,251,000 after buying an additional 289,718 shares during the period. Finally, Capital Guardian Trust Co. increased its stake in shares of Occidental Petroleum by 3.8% in the 3rd quarter. Capital Guardian Trust Co. now owns 442,695 shares of the oil and gas producer’s stock valued at $28,425,000 after buying an additional 16,045 shares during the period. 80.34% of the stock is owned by institutional investors.
Occidental Petroleum Corporation (NYSE:OXY) traded up $0.58 during trading hours on Friday, reaching $70.55. The company’s stock had a trading volume of 5,522,500 shares, compared to its average volume of 4,500,105. Occidental Petroleum Corporation has a 1 year low of $57.20 and a 1 year high of $73.51. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $53,544.22, a PE ratio of 199.91, a price-to-earnings-growth ratio of 14.09 and a beta of 0.65.
Occidental Petroleum (NYSE:OXY) last posted its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm earned ($0.15) earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. equities analysts expect that Occidental Petroleum Corporation will post 0.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be paid a $0.77 dividend. The ex-dividend date is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.37%. Occidental Petroleum’s payout ratio is 440.00%.
A number of equities research analysts recently commented on the company. Cowen reaffirmed a “buy” rating and set a $80.00 price objective on shares of Occidental Petroleum in a research note on Thursday, September 28th. BMO Capital Markets set a $60.00 price objective on Occidental Petroleum and gave the stock a “hold” rating in a research note on Tuesday, October 10th. Scotiabank reaffirmed a “hold” rating and set a $64.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, November 22nd. Mizuho set a $71.00 price objective on Occidental Petroleum and gave the stock a “hold” rating in a research note on Friday, November 24th. Finally, Credit Suisse Group assumed coverage on Occidental Petroleum in a research note on Monday. They set a “neutral” rating and a $62.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. Occidental Petroleum currently has an average rating of “Hold” and a consensus price target of $66.07.
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About Occidental Petroleum
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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