Occidental Petroleum Corporation (OXY) Shares Sold by Assetmark Inc.
Assetmark Inc. decreased its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 97.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,473 shares of the oil and gas producer’s stock after selling 290,891 shares during the period. Assetmark Inc.’s holdings in Occidental Petroleum Corporation were worth $416,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Barometer Capital Management Inc. acquired a new stake in shares of Occidental Petroleum Corporation during the third quarter worth about $12,213,000. BP PLC acquired a new stake in shares of Occidental Petroleum Corporation during the second quarter worth about $5,210,000. Federated Investors Inc. PA lifted its holdings in shares of Occidental Petroleum Corporation by 18.0% during the second quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock worth $453,184,000 after purchasing an additional 1,152,152 shares during the period. BB&T Securities LLC lifted its holdings in shares of Occidental Petroleum Corporation by 71.1% during the second quarter. BB&T Securities LLC now owns 452,611 shares of the oil and gas producer’s stock worth $27,097,000 after purchasing an additional 188,009 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Occidental Petroleum Corporation by 72.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 847,287 shares of the oil and gas producer’s stock worth $50,831,000 after purchasing an additional 356,351 shares during the period. Institutional investors and hedge funds own 80.82% of the company’s stock.
Shares of Occidental Petroleum Corporation (OXY) traded up $0.19 during mid-day trading on Friday, hitting $68.42. The stock had a trading volume of 1,596,187 shares, compared to its average volume of 4,258,787. 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 cap of $52,212.70, a P/E ratio of 194.94, a price-to-earnings-growth ratio of 14.53 and a beta of 0.63. Occidental Petroleum Corporation has a twelve month low of $57.20 and a twelve month high of $73.51.
Occidental Petroleum Corporation (NYSE:OXY) last announced its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The business 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 quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) EPS. research analysts forecast that Occidental Petroleum Corporation will post 0.72 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Monday, December 11th will be paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, December 8th. Occidental Petroleum Corporation’s payout ratio is 440.00%.
A number of research analysts have issued reports on OXY shares. Cowen Inc reissued a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum Corporation in a report on Thursday, September 28th. Bank of America Corporation boosted their price target on Occidental Petroleum Corporation from $70.00 to $76.00 and gave the company a “buy” rating in a report on Friday, October 13th. Goldman Sachs Group Inc raised Occidental Petroleum Corporation from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Morgan Stanley boosted their price target on Occidental Petroleum Corporation from $62.00 to $66.00 and gave the company an “equal weight” rating in a report on Wednesday, October 18th. Finally, Jefferies Group LLC set a $64.00 price target on Occidental Petroleum Corporation and gave the company a “hold” rating in a report on Saturday, July 29th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $67.27.
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Occidental Petroleum Corporation 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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