Optimum Investment Advisors Purchases Shares of 3,121 Occidental Petroleum Corporation (OXY)
Optimum Investment Advisors purchased a new position in Occidental Petroleum Corporation (NYSE:OXY) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,121 shares of the oil and gas producer’s stock, valued at approximately $200,000.
Other hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its stake in shares of Occidental Petroleum by 54.8% in the 2nd quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock valued at $105,000 after purchasing an additional 622 shares in the last quarter. Oakworth Capital Inc. boosted its stake in shares of Occidental Petroleum by 14.7% in the 2nd quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock valued at $117,000 after purchasing an additional 250 shares in the last quarter. Fis Group Inc. purchased a new stake in shares of Occidental Petroleum in the 3rd quarter valued at $126,000. Enterprise Financial Services Corp boosted its stake in shares of Occidental Petroleum by 68.5% in the 3rd quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock valued at $127,000 after purchasing an additional 806 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Occidental Petroleum by 14.2% in the 2nd quarter. Parallel Advisors LLC now owns 2,240 shares of the oil and gas producer’s stock valued at $139,000 after purchasing an additional 279 shares in the last quarter. 80.34% of the stock is owned by institutional investors and hedge funds.
Occidental Petroleum Corporation (NYSE:OXY) opened at $70.62 on Friday. 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 company has a market cap of $53,988.06, a price-to-earnings ratio of 201.57, a price-to-earnings-growth ratio of 14.20 and a beta of 0.65.
Occidental Petroleum (NYSE:OXY) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. Occidental Petroleum had a net margin of 4.33% and a return on equity of 1.31%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the business earned ($0.15) EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. sell-side analysts predict that Occidental Petroleum Corporation will post 0.76 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Monday, December 11th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 annualized dividend and a yield of 4.36%. Occidental Petroleum’s dividend payout ratio (DPR) is presently 440.00%.
OXY has been the subject of a number of research reports. Morgan Stanley upped their price objective on shares of Occidental Petroleum from $62.00 to $66.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 18th. Jefferies Group set a $58.00 price target on shares of Occidental Petroleum and gave the company a “hold” rating in a report on Tuesday, August 29th. BidaskClub lowered shares of Occidental Petroleum from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. BMO Capital Markets set a $60.00 price target on shares of Occidental Petroleum and gave the company a “hold” rating in a report on Tuesday, October 10th. Finally, Barclays upped their price target on shares of Occidental Petroleum from $38.00 to $40.00 and gave the company an “underweight” rating in a report on Wednesday, October 11th. Three equities research 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. The company 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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