Candriam Luxembourg S.C.A. Has $7.16 Million Holdings in Occidental Petroleum Co. (OXY)
Candriam Luxembourg S.C.A. trimmed its position in Occidental Petroleum Co. (NYSE:OXY) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,229 shares of the oil and gas producer’s stock after selling 5,631 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Occidental Petroleum were worth $7,162,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Wealth Advisors of Tampa Bay LLC bought a new position in Occidental Petroleum in the 4th quarter valued at $4,726,000. Wilbanks Smith & Thomas Asset Management LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $203,000. Associated Banc Corp raised its position in shares of Occidental Petroleum by 4.9% during the 4th quarter. Associated Banc Corp now owns 46,625 shares of the oil and gas producer’s stock valued at $3,434,000 after buying an additional 2,174 shares in the last quarter. Buckley Wealth Management LLC purchased a new stake in shares of Occidental Petroleum during the 4th quarter valued at $1,325,000. Finally, South Texas Money Management Ltd. raised its position in shares of Occidental Petroleum by 3.5% during the 4th quarter. South Texas Money Management Ltd. now owns 510,677 shares of the oil and gas producer’s stock valued at $37,617,000 after buying an additional 17,109 shares in the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Occidental Petroleum from $66.00 to $84.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Macquarie assumed coverage on shares of Occidental Petroleum in a research report on Wednesday, January 17th. They set a “neutral” rating on the stock. Citigroup upgraded shares of Occidental Petroleum from a “sell” rating to a “neutral” rating and set a $73.00 price objective on the stock in a research report on Monday, January 22nd. Cowen set a $85.00 price objective on shares of Occidental Petroleum and gave the company a “buy” rating in a research report on Thursday, January 18th. Finally, Mizuho set a $79.00 price objective on shares of Occidental Petroleum and gave the company a “hold” rating in a research report on Tuesday, January 16th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $70.07.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Tuesday, February 13th. The oil and gas producer reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Occidental Petroleum had a net margin of 9.88% and a return on equity of 3.28%. During the same quarter last year, the company earned ($0.13) EPS. analysts forecast that Occidental Petroleum Co. will post 2.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 9th will be given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Thursday, March 8th. Occidental Petroleum’s payout ratio is presently 180.12%.
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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