Brasada Capital Management LP Acquires New Position in Occidental Petroleum Co. (OXY)
Brasada Capital Management LP acquired a new stake in Occidental Petroleum Co. (NYSE:OXY) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,000 shares of the oil and gas producer’s stock, valued at approximately $530,000.
A number of other large investors have also added to or reduced their stakes in the business. Country Trust Bank grew its position in shares of Occidental Petroleum by 434.6% in the fourth quarter. Country Trust Bank now owns 417 shares of the oil and gas producer’s stock valued at $26,000 after purchasing an additional 339 shares during the last quarter. We Are One Seven LLC acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $25,000. Pinnacle Bank acquired a new position in shares of Occidental Petroleum in the fourth quarter valued at approximately $28,000. Heritage Trust Co grew its position in shares of Occidental Petroleum by 496.2% in the fourth quarter. Heritage Trust Co now owns 465 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 387 shares during the last quarter. Finally, Harvest Group Wealth Management LLC acquired a new stake in Occidental Petroleum during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 84.05% of the company’s stock.
A number of equities research analysts recently issued reports on OXY shares. KeyCorp reduced their price target on Occidental Petroleum from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. ValuEngine downgraded Occidental Petroleum from a “sell” rating to a “strong sell” rating in a research report on Tuesday, April 30th. Atlantic Securities downgraded Occidental Petroleum from an “overweight” rating to a “neutral” rating and set a $61.50 price target on the stock. in a research report on Thursday, April 25th. Barclays downgraded Occidental Petroleum from an “overweight” rating to an “underweight” rating and reduced their price target for the stock from $77.00 to $70.00 in a research report on Friday, February 15th. Finally, Zacks Investment Research raised Occidental Petroleum from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Occidental Petroleum currently has a consensus rating of “Hold” and a consensus price target of $77.66.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Sunday, May 5th. The oil and gas producer reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.12. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Occidental Petroleum had a return on equity of 17.70% and a net margin of 21.17%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. On average, analysts anticipate that Occidental Petroleum Co. will post 3.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 10th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date is Friday, June 7th. Occidental Petroleum’s dividend payout ratio is presently 62.28%.
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Occidental Petroleum Company Profile
Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally. The company operates through three segments: Oil and Gas, Chemical, 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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