Occidental Petroleum Co. (OXY) Stake Lowered by Sei Investments Co.

Sei Investments Co. decreased its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 444,724 shares of the oil and gas producer’s stock after selling 29,474 shares during the quarter. Sei Investments Co.’s holdings in Occidental Petroleum were worth $37,216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Community Bank & Trust Waco Texas grew its holdings in shares of Occidental Petroleum by 41.2% during the second quarter. Community Bank & Trust Waco Texas now owns 5,130 shares of the oil and gas producer’s stock worth $429,000 after purchasing an additional 1,497 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Occidental Petroleum by 172.0% during the first quarter. PNC Financial Services Group Inc. now owns 1,722,476 shares of the oil and gas producer’s stock worth $111,893,000 after purchasing an additional 1,089,145 shares in the last quarter. Paulson Wealth Management Inc. purchased a new position in shares of Occidental Petroleum during the second quarter worth about $225,000. First Foundation Advisors grew its holdings in shares of Occidental Petroleum by 5.8% during the first quarter. First Foundation Advisors now owns 202,929 shares of the oil and gas producer’s stock worth $13,182,000 after purchasing an additional 11,058 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in shares of Occidental Petroleum by 322.4% during the second quarter. Whittier Trust Co. now owns 38,960 shares of the oil and gas producer’s stock worth $3,998,000 after purchasing an additional 29,736 shares in the last quarter. 80.77% of the stock is owned by institutional investors.

Shares of OXY opened at $77.79 on Friday. The company has a market capitalization of $62.75 billion, a price-to-earnings ratio of 87.40, a PEG ratio of 2.63 and a beta of 0.63. The company has a quick ratio of 1.11, a current ratio of 1.26 and a debt-to-equity ratio of 0.50. Occidental Petroleum Co. has a 1 year low of $58.44 and a 1 year high of $87.67.

Occidental Petroleum (NYSE:OXY) last announced its quarterly earnings data on Wednesday, August 8th. The oil and gas producer reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.11). Occidental Petroleum had a net margin of 13.47% and a return on equity of 6.15%. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the previous year, the firm posted $0.15 EPS. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. sell-side analysts anticipate that Occidental Petroleum Co. will post 4.91 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 10th will be given a $0.78 dividend. The ex-dividend date is Friday, September 7th. This represents a $3.12 annualized dividend and a yield of 4.01%. This is an increase from Occidental Petroleum’s previous quarterly dividend of $0.77. Occidental Petroleum’s payout ratio is presently 346.07%.

Several analysts have issued reports on OXY shares. Piper Jaffray Companies raised Occidental Petroleum from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $77.00 to $86.00 in a research note on Sunday, April 15th. Morgan Stanley started coverage on Occidental Petroleum in a research note on Thursday, July 12th. They issued an “overweight” rating and a $100.00 target price for the company. Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research note on Monday, May 14th. Citigroup raised Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 5th. Finally, Capital One Financial raised Occidental Petroleum from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, May 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Occidental Petroleum currently has an average rating of “Buy” and an average target price of $83.27.

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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Institutional Ownership by Quarter for Occidental Petroleum (NYSE:OXY)

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