Occidental Petroleum Co. (OXY) Shares Sold by Dividend Assets Capital LLC
Dividend Assets Capital LLC cut its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 10.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 526,842 shares of the oil and gas producer’s stock after selling 58,224 shares during the period. Dividend Assets Capital LLC owned about 0.07% of Occidental Petroleum worth $33,829,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. raised its position in Occidental Petroleum by 3,198.5% during the first quarter. BlackRock Inc. now owns 58,991,369 shares of the oil and gas producer’s stock worth $3,737,692,000 after acquiring an additional 57,202,942 shares during the period. Vanguard Group Inc. raised its position in Occidental Petroleum by 2.1% during the second quarter. Vanguard Group Inc. now owns 55,192,202 shares of the oil and gas producer’s stock worth $3,304,357,000 after acquiring an additional 1,119,588 shares during the period. State Street Corp raised its position in Occidental Petroleum by 1.7% during the first quarter. State Street Corp now owns 39,633,185 shares of the oil and gas producer’s stock worth $2,511,168,000 after acquiring an additional 681,032 shares during the period. Bank of New York Mellon Corp raised its position in Occidental Petroleum by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 13,863,518 shares of the oil and gas producer’s stock worth $830,010,000 after acquiring an additional 247,780 shares during the period. Finally, Franklin Resources Inc. raised its position in Occidental Petroleum by 1.4% during the second quarter. Franklin Resources Inc. now owns 13,570,361 shares of the oil and gas producer’s stock worth $812,457,000 after acquiring an additional 186,703 shares during the period. Institutional investors own 80.29% of the company’s stock.
OXY has been the subject of a number of research analyst reports. Cowen and Company set a $75.00 price objective on shares of Occidental Petroleum and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Bank of America Corporation increased their target price on shares of Occidental Petroleum from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Morgan Stanley increased their target price on shares of Occidental Petroleum from $62.00 to $66.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Finally, Jefferies Group LLC set a $58.00 target price on shares of Occidental Petroleum and gave the company a “hold” rating in a research report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. Occidental Petroleum currently has a consensus rating of “Hold” and an average target price of $66.07.
Occidental Petroleum Co. (NYSE:OXY) traded down $0.53 during midday trading on Monday, hitting $68.17. 3,493,900 shares of the stock traded hands, compared to its average volume of 4,525,280. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.45. Occidental Petroleum Co. has a twelve month low of $57.20 and a twelve month high of $73.51. The stock has a market capitalization of $52,130.00, a price-to-earnings ratio of 194.77, a price-to-earnings-growth ratio of 13.71 and a beta of 0.63.
Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. Occidental Petroleum had a net margin of 4.24% and a return on equity of 3.64%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted ($0.15) earnings per share. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. analysts forecast that Occidental Petroleum Co. will post 0.77 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Friday, December 8th. Occidental Petroleum’s payout ratio is 433.80%.
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Occidental Petroleum Company 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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