SFE Investment Counsel Has $826,000 Stake in Occidental Petroleum Corporation (OXY)
SFE Investment Counsel decreased its position in Occidental Petroleum Corporation (NYSE:OXY) by 37.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,860 shares of the oil and gas producer’s stock after selling 7,853 shares during the period. SFE Investment Counsel’s holdings in Occidental Petroleum Corporation were worth $826,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of OXY. Barometer Capital Management Inc. acquired a new stake in Occidental Petroleum Corporation during the 3rd quarter worth approximately $12,213,000. BP PLC purchased a new stake in shares of Occidental Petroleum Corporation in the 2nd quarter valued at approximately $5,210,000. Federated Investors Inc. PA increased its position in shares of Occidental Petroleum Corporation by 18.0% in the 2nd quarter. Federated Investors Inc. PA now owns 7,569,462 shares of the oil and gas producer’s stock valued at $453,184,000 after purchasing an additional 1,152,152 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Occidental Petroleum Corporation by 0.6% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 24,660 shares of the oil and gas producer’s stock valued at $1,562,000 after buying an additional 150 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Occidental Petroleum Corporation by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock worth $3,426,042,000 after purchasing an additional 983,992 shares during the last quarter. 80.66% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on the stock. Cowen and Company restated a “buy” rating and issued a $75.00 target price on shares of Occidental Petroleum Corporation in a research note on Tuesday, August 22nd. Mizuho restated a “hold” rating and set a $64.00 target price on shares of Occidental Petroleum Corporation in a research report on Friday. Wolfe Research upgraded shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Zacks Investment Research downgraded shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Bank of America Corporation lifted their price target on shares of Occidental Petroleum Corporation from $70.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. Occidental Petroleum Corporation has an average rating of “Hold” and an average target price of $66.07.
Shares of Occidental Petroleum Corporation (NYSE OXY) traded up $0.43 during mid-day trading on Monday, reaching $68.69. The company’s stock had a trading volume of 579,888 shares, compared to its average volume of 4,414,681. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 0.95. The company has a market cap of $52,235.65, a price-to-earnings ratio of 195.03, a P/E/G ratio of 14.84 and a beta of 0.63.
Occidental Petroleum Corporation (NYSE:OXY) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. Occidental Petroleum Corporation had a return on equity of 1.31% and a net margin of 4.33%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the company posted ($0.15) earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. analysts expect that Occidental Petroleum Corporation will post 0.71 earnings per share for the current 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 given a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 annualized dividend and a dividend yield of 4.48%. Occidental Petroleum Corporation’s dividend payout ratio is 440.00%.
In other Occidental Petroleum Corporation news, Director William R. Klesse acquired 10,000 shares of Occidental Petroleum Corporation stock in a transaction dated Wednesday, August 9th. The stock was bought at an average cost of $61.58 per share, with a total value of $615,800.00. Following the completion of the transaction, the director now owns 70,692 shares of the company’s stock, valued at $4,353,213.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.
Occidental Petroleum Corporation 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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