Asset Management One Co. Ltd. Has $77.80 Million Holdings in Occidental Petroleum Corporation (OXY)
Asset Management One Co. Ltd. raised its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,210,467 shares of the oil and gas producer’s stock after acquiring an additional 1,507 shares during the quarter. Asset Management One Co. Ltd. owned about 0.16% of Occidental Petroleum worth $77,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Grove Bank & Trust increased its holdings in shares of Occidental Petroleum by 54.8% in the second quarter. Grove Bank & Trust now owns 1,758 shares of the oil and gas producer’s stock worth $105,000 after purchasing an additional 622 shares during the period. Oakworth Capital Inc. increased its holdings in shares of Occidental Petroleum by 14.7% in the second quarter. Oakworth Capital Inc. now owns 1,952 shares of the oil and gas producer’s stock worth $117,000 after purchasing an additional 250 shares during the period. Fis Group Inc. bought a new position in shares of Occidental Petroleum in the third quarter worth $126,000. Enterprise Financial Services Corp increased its holdings in shares of Occidental Petroleum by 68.5% in the third quarter. Enterprise Financial Services Corp now owns 1,982 shares of the oil and gas producer’s stock worth $127,000 after purchasing an additional 806 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of Occidental Petroleum by 14.2% in the second quarter. Parallel Advisors LLC now owns 2,240 shares of the oil and gas producer’s stock worth $139,000 after purchasing an additional 279 shares during the period. 80.34% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on OXY. Cowen reaffirmed a “buy” rating and issued a $75.00 price target on shares of Occidental Petroleum in a report on Tuesday, August 22nd. Mizuho reaffirmed a “hold” rating and issued a $64.00 price target on shares of Occidental Petroleum in a report on Friday, November 3rd. Bank of America upped their price target on shares of Occidental Petroleum from $70.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Goldman Sachs Group raised shares of Occidental Petroleum from a “neutral” rating to a “buy” rating in a report on Friday, November 17th. Finally, Zacks Investment Research cut shares of Occidental Petroleum from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $67.27.
Occidental Petroleum (NYSE:OXY) last released its earnings results on Wednesday, November 1st. The oil and gas producer reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.07. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Occidental Petroleum had a return on equity of 1.31% and a net margin of 4.33%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. equities research analysts predict that Occidental Petroleum Corporation will post 0.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Monday, December 11th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $3.08 dividend on an annualized basis and a yield of 4.45%. Occidental Petroleum’s dividend payout ratio is presently 440.00%.
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Occidental Petroleum 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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