Marshall Wace LLP Takes $5.02 Million Position in Occidental Petroleum Corporation (OXY)
Marshall Wace LLP bought a new stake in shares of Occidental Petroleum Corporation (NYSE:OXY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 83,612 shares of the oil and gas producer’s stock, valued at approximately $5,017,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Municipal Employees Retirement System of Michigan increased its stake in Occidental Petroleum Corporation by 0.6% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 24,660 shares of the oil and gas producer’s stock worth $1,562,000 after acquiring an additional 150 shares during the last quarter. Argent Capital Management LLC increased its stake in Occidental Petroleum Corporation by 2.9% in the 1st quarter. Argent Capital Management LLC now owns 286,222 shares of the oil and gas producer’s stock worth $18,135,000 after acquiring an additional 8,043 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Occidental Petroleum Corporation by 10.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 182,706 shares of the oil and gas producer’s stock worth $11,576,000 after acquiring an additional 17,623 shares during the last quarter. Vanguard Group Inc. increased its stake in Occidental Petroleum Corporation by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 54,072,614 shares of the oil and gas producer’s stock worth $3,426,042,000 after acquiring an additional 983,992 shares during the last quarter. Finally, CWM LLC increased its stake in Occidental Petroleum Corporation by 23.7% in the 2nd quarter. CWM LLC now owns 476,024 shares of the oil and gas producer’s stock worth $28,500,000 after acquiring an additional 91,342 shares during the last quarter. 80.85% of the stock is currently owned by institutional investors.
Occidental Petroleum Corporation (NYSE:OXY) opened at 59.75 on Tuesday. Occidental Petroleum Corporation has a one year low of $57.20 and a one year high of $78.17. The stock has a market cap of $45.68 billion, a PE ratio of 420.77 and a beta of 0.66. The stock has a 50 day moving average price of $60.46 and a 200-day moving average price of $61.68.
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 consensus estimate of $0.12 by $0.03. Occidental Petroleum Corporation had a return on equity of 0.13% and a net margin of 0.91%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the firm earned ($0.18) earnings per share. The business’s revenue for the quarter was up 40.9% on a year-over-year basis. Equities research analysts expect that Occidental Petroleum Corporation will post $0.67 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, September 11th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend is Friday, September 8th. This is a boost from Occidental Petroleum Corporation’s previous quarterly dividend of $0.76. Occidental Petroleum Corporation’s dividend payout ratio (DPR) is currently 2,338.46%.
In other Occidental Petroleum Corporation news, Director William R. Klesse bought 10,000 shares of the business’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 purchase, the director now directly owns 70,692 shares in the company, valued at $4,353,213.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cedric W. Burgher bought 1,700 shares of the business’s stock in a transaction on Wednesday, June 7th. The shares were acquired at an average cost of $59.85 per share, with a total value of $101,745.00. Following the purchase, the chief financial officer now owns 44,124 shares of the company’s stock, valued at $2,640,821.40. The disclosure for this purchase can be found here. 0.32% of the stock is currently owned by company insiders.
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A number of research firms have issued reports on OXY. Zacks Investment Research downgraded Occidental Petroleum Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 31st. Jefferies Group LLC set a $58.00 price objective on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies set a $55.00 price objective on Occidental Petroleum Corporation and gave the stock a “hold” rating in a research note on Friday, August 25th. BidaskClub downgraded Occidental Petroleum Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Occidental Petroleum Corporation in a research note on Tuesday, August 22nd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $65.14.
Occidental Petroleum Corporation Company Profile
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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