New Mexico Educational Retirement Board decreased its position in Occidental Petroleum Co. (NYSE:OXY) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,913 shares of the oil and gas producer’s stock after selling 2,200 shares during the period. New Mexico Educational Retirement Board’s holdings in Occidental Petroleum were worth $4,165,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. We Are One Seven LLC bought a new stake in shares of Occidental Petroleum during the 4th quarter worth approximately $25,000. Country Trust Bank lifted its position in shares of Occidental Petroleum by 434.6% in the fourth quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 339 shares in the last quarter. Pinnacle Bank purchased a new stake in shares of Occidental Petroleum in the fourth quarter worth approximately $28,000. Heritage Trust Co lifted its position in shares of Occidental Petroleum by 496.2% in the fourth quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 387 shares in the last quarter. Finally, Sontag Advisory LLC purchased a new stake in shares of Occidental Petroleum in the fourth quarter worth approximately $32,000. 84.34% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on OXY shares. ValuEngine downgraded shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Zacks Investment Research downgraded shares of Occidental Petroleum from a “hold” rating to a “strong sell” rating in a research note on Friday, January 11th. Mizuho restated a “buy” rating and issued a $82.00 price objective on shares of Occidental Petroleum in a research note on Wednesday, February 13th. Oppenheimer started coverage on shares of Occidental Petroleum in a research note on Wednesday, March 27th. They issued a “market perform” rating on the stock. Finally, Citigroup downgraded shares of Occidental Petroleum from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $80.00 to $72.00 in a research note on Tuesday, February 19th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $83.80.
Occidental Petroleum (NYSE:OXY) last released its quarterly earnings results on Tuesday, February 12th. The oil and gas producer reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.10. Occidental Petroleum had a return on equity of 18.17% and a net margin of 21.87%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. As a group, sell-side analysts predict that Occidental Petroleum Co. will post 3.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 11th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $3.12 annualized dividend and a yield of 4.90%. Occidental Petroleum’s dividend payout ratio is currently 62.28%.
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Occidental Petroleum Company Profile
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.
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