Norinchukin Bank The Boosts Position in Occidental Petroleum Corporation (OXY)
Norinchukin Bank The grew its position in Occidental Petroleum Corporation (NYSE:OXY) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,717 shares of the oil and gas producer’s stock after purchasing an additional 3,323 shares during the quarter. Norinchukin Bank The’s holdings in Occidental Petroleum Corporation were worth $6,146,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in Occidental Petroleum Corporation by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,792,810 shares of the oil and gas producer’s stock worth $240,327,000 after acquiring an additional 11,413 shares during the last quarter. Palouse Capital Management Inc. acquired a new stake in shares of Occidental Petroleum Corporation in the 1st quarter valued at approximately $5,877,000. Morgan Stanley boosted its holdings in shares of Occidental Petroleum Corporation by 22.1% in the 1st quarter. Morgan Stanley now owns 9,249,261 shares of the oil and gas producer’s stock valued at $586,034,000 after buying an additional 1,672,384 shares during the last quarter. Harfst & Associates Inc. acquired a new stake in shares of Occidental Petroleum Corporation during the 1st quarter worth $169,000. Finally, BlackRock Inc. boosted its stake in Occidental Petroleum Corporation by 3,198.5% in the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock valued at $3,737,692,000 after buying an additional 57,202,942 shares in the last quarter. 80.82% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Occidental Petroleum Corporation (NYSE OXY) traded up $0.07 on Wednesday, hitting $67.88. The company had a trading volume of 2,972,600 shares, compared to its average volume of 4,513,300. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. Occidental Petroleum Corporation has a 1-year low of $57.20 and a 1-year high of $73.51. The firm has a market cap of $51,891.29, a price-to-earnings ratio of 193.74, a PEG ratio of 14.44 and a beta of 0.63.
Occidental Petroleum Corporation (NYSE:OXY) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Occidental Petroleum Corporation had a return on equity of 1.31% and a net margin of 4.33%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.15) EPS. research analysts anticipate that Occidental Petroleum Corporation will post 0.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a yield of 4.54%. The ex-dividend date is Friday, December 8th. Occidental Petroleum Corporation’s payout ratio is 440.00%.
Several equities research analysts have recently commented on the company. Zacks Investment Research downgraded Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Jefferies Group LLC set a $58.00 price objective on Occidental Petroleum Corporation and gave the stock a “hold” rating in a report on Tuesday, August 29th. BidaskClub upgraded Occidental Petroleum Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Bank of America Corporation increased their price objective on Occidental Petroleum Corporation from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Finally, Barclays PLC increased their price objective on Occidental Petroleum Corporation from $38.00 to $40.00 and gave the stock an “underweight” rating in a report on Wednesday, October 11th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. Occidental Petroleum Corporation presently has an average rating of “Hold” and a consensus target price of $66.80.
About Occidental Petroleum Corporation
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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