Global Financial Private Capital LLC Raises Holdings in Occidental Petroleum Co. (OXY)
Global Financial Private Capital LLC raised its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 19.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 353,733 shares of the oil and gas producer’s stock after acquiring an additional 57,538 shares during the period. Global Financial Private Capital LLC’s holdings in Occidental Petroleum were worth $26,059,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barometer Capital Management Inc. purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $12,213,000. California Public Employees Retirement System raised its stake in shares of Occidental Petroleum by 3.3% during the 3rd quarter. California Public Employees Retirement System now owns 2,047,285 shares of the oil and gas producer’s stock valued at $131,456,000 after buying an additional 64,533 shares during the last quarter. Swiss National Bank raised its stake in shares of Occidental Petroleum by 0.9% during the 3rd quarter. Swiss National Bank now owns 2,892,043 shares of the oil and gas producer’s stock valued at $185,698,000 after buying an additional 25,100 shares during the last quarter. Stoneridge Investment Partners LLC purchased a new position in shares of Occidental Petroleum during the 4th quarter valued at about $355,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Occidental Petroleum during the 3rd quarter valued at about $3,792,000. Institutional investors and hedge funds own 79.98% of the company’s stock.
Occidental Petroleum Co. (OXY) opened at $69.72 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Occidental Petroleum Co. has a 52 week low of $57.20 and a 52 week high of $78.09. The firm has a market capitalization of $53,350.00, a PE ratio of 98.20, a P/E/G ratio of 4.48 and a beta of 0.53.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 9th will be paid a dividend of $0.77 per share. The ex-dividend date is Thursday, March 8th. This represents a $3.08 annualized dividend and a yield of 4.42%. Occidental Petroleum’s dividend payout ratio (DPR) is currently 433.80%.
A number of equities analysts have weighed in on OXY shares. Goldman Sachs Group upgraded Occidental Petroleum from a “neutral” rating to a “buy” rating in a research note on Friday, November 17th. Credit Suisse Group started coverage on Occidental Petroleum in a research note on Monday, December 11th. They set a “neutral” rating and a $62.00 price objective for the company. Jefferies Group lifted their price objective on Occidental Petroleum from $62.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, November 3rd. Citigroup upgraded Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective for the company in a research note on Monday, January 22nd. Finally, Macquarie started coverage on Occidental Petroleum in a research note on Wednesday, January 17th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Occidental Petroleum has an average rating of “Hold” and a consensus target price of $70.07.
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About Occidental Petroleum
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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