United Services Automobile Association Trims Holdings in Occidental Petroleum Co. (OXY)
United Services Automobile Association cut its stake in Occidental Petroleum Co. (NYSE:OXY) by 4.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,181,502 shares of the oil and gas producer’s stock after selling 99,264 shares during the period. United Services Automobile Association’s holdings in Occidental Petroleum were worth $182,548,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Epoch Investment Partners Inc. raised its stake in shares of Occidental Petroleum by 0.4% in the 1st quarter. Epoch Investment Partners Inc. now owns 9,777,039 shares of the oil and gas producer’s stock valued at $635,116,000 after buying an additional 35,684 shares in the last quarter. Standard Life Aberdeen plc raised its stake in shares of Occidental Petroleum by 1,541.0% in the 2nd quarter. Standard Life Aberdeen plc now owns 7,584,578 shares of the oil and gas producer’s stock valued at $634,716,000 after buying an additional 7,122,373 shares in the last quarter. Adams Asset Advisors LLC raised its stake in shares of Occidental Petroleum by 7.9% in the 2nd quarter. Adams Asset Advisors LLC now owns 6,789,866 shares of the oil and gas producer’s stock valued at $568,175,000 after buying an additional 500,000 shares in the last quarter. FMR LLC raised its stake in shares of Occidental Petroleum by 232.5% in the 2nd quarter. FMR LLC now owns 6,049,152 shares of the oil and gas producer’s stock valued at $506,194,000 after buying an additional 4,230,065 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Occidental Petroleum by 9.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,735,322 shares of the oil and gas producer’s stock valued at $479,928,000 after buying an additional 490,346 shares in the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.
Shares of Occidental Petroleum stock traded up $0.16 during mid-day trading on Thursday, reaching $81.17. 254,167 shares of the stock were exchanged, compared to its average volume of 4,174,986. The stock has a market capitalization of $62.18 billion, a P/E ratio of 91.33, a price-to-earnings-growth ratio of 3.01 and a beta of 0.61. The company has a quick ratio of 1.19, a current ratio of 1.36 and a debt-to-equity ratio of 0.49. Occidental Petroleum Co. has a fifty-two week low of $62.47 and a fifty-two week high of $87.67.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 10th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, September 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.84%. This is a boost from Occidental Petroleum’s previous quarterly dividend of $0.77. Occidental Petroleum’s dividend payout ratio (DPR) is 350.56%.
A number of equities analysts have recently issued reports on the stock. Edward Jones upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Tuesday, September 18th. Bank of America increased their price objective on shares of Occidental Petroleum from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, August 17th. National Alliance Securities upgraded shares of Occidental Petroleum from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. JPMorgan Chase & Co. dropped their price objective on shares of Occidental Petroleum from $94.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, August 10th. Finally, ValuEngine cut shares of Occidental Petroleum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $83.60.
In other news, Director William R. Klesse bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was acquired at an average price of $78.55 per share, for a total transaction of $392,750.00. Following the transaction, the director now directly owns 77,963 shares of the company’s stock, valued at approximately $6,123,993.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.32% of the company’s stock.
Occidental Petroleum Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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