Norinchukin Bank The raised its stake in shares of Occidental Petroleum (NYSE:OXY) by 9.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 108,988 shares of the oil and gas producer’s stock after buying an additional 9,009 shares during the quarter. Norinchukin Bank The’s holdings in Occidental Petroleum were worth $7,080,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of OXY. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Occidental Petroleum by 21.2% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 19,262,159 shares of the oil and gas producer’s stock worth $1,418,851,000 after buying an additional 3,366,402 shares during the period. Millennium Management LLC grew its position in shares of Occidental Petroleum by 2,791.8% during the 4th quarter. Millennium Management LLC now owns 1,989,031 shares of the oil and gas producer’s stock worth $146,512,000 after buying an additional 1,920,249 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Occidental Petroleum by 275.0% during the 4th quarter. Mackenzie Financial Corp now owns 1,985,993 shares of the oil and gas producer’s stock valued at $146,288,000 after purchasing an additional 1,456,337 shares in the last quarter. Tide Point Capital Management LP bought a new position in shares of Occidental Petroleum during the 4th quarter valued at about $82,756,000. Finally, BlackRock Inc. lifted its holdings in shares of Occidental Petroleum by 1.7% during the 1st quarter. BlackRock Inc. now owns 51,336,909 shares of the oil and gas producer’s stock valued at $3,334,846,000 after purchasing an additional 857,046 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.
Several equities analysts have recently weighed in on OXY shares. JPMorgan Chase & Co. cut their price objective on Occidental Petroleum from $75.00 to $74.00 and set a “neutral” rating on the stock in a report on Monday, April 9th. Piper Jaffray Companies upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $77.00 to $86.00 in a report on Sunday, April 15th. UBS started coverage on Occidental Petroleum in a report on Wednesday, March 7th. They set a “neutral” rating and a $71.00 price objective on the stock. Zacks Investment Research upgraded Occidental Petroleum from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a report on Monday, May 14th. Finally, ValuEngine cut Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. Occidental Petroleum currently has an average rating of “Hold” and an average target price of $76.94.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Tuesday, May 8th. The oil and gas producer reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.21. The firm had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.63 billion. Occidental Petroleum had a return on equity of 6.15% and a net margin of 13.47%. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 EPS. equities analysts expect that Occidental Petroleum will post 4.01 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, June 11th will be paid a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Friday, June 8th. Occidental Petroleum’s payout ratio is 346.07%.
Occidental Petroleum Company 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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