Occidental Petroleum Corporation (NYSE:OXY) Position Cut by Caisse DE Depot ET Placement DU Quebec
Caisse DE Depot ET Placement DU Quebec cut its position in shares of Occidental Petroleum Corporation (NYSE:OXY) by 80.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,905 shares of the oil and gas producer’s stock after selling 182,800 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Occidental Petroleum Corporation were worth $2,848,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Occidental Petroleum Corporation during the first quarter worth approximately $102,000. Parallel Advisors LLC raised its position in shares of Occidental Petroleum Corporation by 15.6% in the first quarter. Parallel Advisors LLC now owns 1,961 shares of the oil and gas producer’s stock worth $118,000 after buying an additional 264 shares during the period. Mosaic Family Wealth LLC raised its position in shares of Occidental Petroleum Corporation by 4.0% in the first quarter. Mosaic Family Wealth LLC now owns 1,887 shares of the oil and gas producer’s stock worth $120,000 after buying an additional 72 shares during the period. Ledyard National Bank raised its position in shares of Occidental Petroleum Corporation by 650.4% in the first quarter. Ledyard National Bank now owns 2,829 shares of the oil and gas producer’s stock worth $179,000 after buying an additional 2,452 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Occidental Petroleum Corporation by 6.1% in the first quarter. Quadrant Capital Group LLC now owns 2,982 shares of the oil and gas producer’s stock worth $182,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds own 81.42% of the company’s stock.
Shares of Occidental Petroleum Corporation (OXY) traded up 0.39% during mid-day trading on Friday, hitting $59.15. 4,042,915 shares of the stock were exchanged. Occidental Petroleum Corporation has a 52 week low of $57.20 and a 52 week high of $78.48. The stock’s 50-day moving average is $60.53 and its 200-day moving average is $62.29. The stock has a market capitalization of $45.22 billion, a price-to-earnings ratio of 416.55 and a beta of 0.65.
Occidental Petroleum Corporation (NYSE:OXY) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a net margin of 0.91% and a return on equity of 0.13%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3 billion. During the same period in the prior year, the business posted ($0.18) EPS. The firm’s revenue was up 40.9% compared to the same quarter last year. Analysts forecast that Occidental Petroleum Corporation will post $0.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, September 11th will be issued a $0.77 dividend. The ex-dividend date is Friday, September 8th. This is a positive change from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. This represents a $3.08 annualized dividend and a yield of 5.21%. Occidental Petroleum Corporation’s dividend payout ratio is 2,338.46%.
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A number of brokerages recently commented on OXY. Jefferies Group LLC reiterated a “hold” rating and issued a $70.00 price target on shares of Occidental Petroleum Corporation in a research note on Monday, May 15th. Credit Suisse Group reiterated a “buy” rating and issued a $80.00 price target on shares of Occidental Petroleum Corporation in a research note on Friday, May 19th. Zacks Investment Research lowered shares of Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Wolfe Research upgraded shares of Occidental Petroleum Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Finally, Bank of America Corporation restated a “buy” rating and set a $80.00 target price (down previously from $83.00) on shares of Occidental Petroleum Corporation in a research report on Thursday, May 11th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $66.38.
In related news, CFO Cedric W. Burgher acquired 1,700 shares of the firm’s stock in a transaction on Wednesday, June 7th. The stock was acquired at an average cost of $59.85 per share, for a total transaction of $101,745.00. Following the acquisition, the chief financial officer now owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William R. Klesse acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was bought at an average price of $61.58 per share, with a total value of $615,800.00. Following the completion of the acquisition, the director now directly owns 70,692 shares in the company, valued at approximately $4,353,213.36. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by corporate insiders.
About Occidental Petroleum Corporation
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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