ProShare Advisors LLC Grows Stock Holdings in Occidental Petroleum Corporation $OXY

ProShare Advisors LLC grew its holdings in shares of Occidental Petroleum Corporation (NYSE:OXY) by 11.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 160,948 shares of the oil and gas producer’s stock after purchasing an additional 16,795 shares during the period. ProShare Advisors LLC’s holdings in Occidental Petroleum were worth $6,618,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of OXY. Wellington Management Group LLP grew its stake in Occidental Petroleum by 1,029.9% during the third quarter. Wellington Management Group LLP now owns 1,493,747 shares of the oil and gas producer’s stock worth $70,580,000 after buying an additional 1,361,541 shares during the period. AQR Capital Management LLC grew its stake in Occidental Petroleum by 134.3% during the third quarter. AQR Capital Management LLC now owns 1,815,821 shares of the oil and gas producer’s stock worth $85,798,000 after buying an additional 1,040,941 shares during the period. Dimensional Fund Advisors LP grew its stake in Occidental Petroleum by 11.5% during the third quarter. Dimensional Fund Advisors LP now owns 8,718,939 shares of the oil and gas producer’s stock worth $412,045,000 after buying an additional 900,677 shares during the period. Aventail Capital Group LP purchased a new stake in Occidental Petroleum during the third quarter worth approximately $39,613,000. Finally, Vanguard Group Inc. boosted its stake in shares of Occidental Petroleum by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 89,900,677 shares of the oil and gas producer’s stock valued at $3,696,716,000 after purchasing an additional 699,137 shares during the period. 88.70% of the stock is currently owned by hedge funds and other institutional investors.

Occidental Petroleum Trading Down 0.0%

NYSE OXY opened at $58.82 on Friday. Occidental Petroleum Corporation has a 12 month low of $38.80 and a 12 month high of $67.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.21 and a quick ratio of 1.01. The company has a market capitalization of $58.50 billion, a price-to-earnings ratio of 14.82 and a beta of 0.17. The company’s fifty day moving average price is $58.94 and its two-hundred day moving average price is $49.37.

Occidental Petroleum (NYSE:OXY) last posted its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.46. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same period in the prior year, the firm posted $0.14 EPS. The firm’s revenue was down 8.3% compared to the same quarter last year. As a group, research analysts predict that Occidental Petroleum Corporation will post 5.14 earnings per share for the current fiscal year.

Occidental Petroleum Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, June 10th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Wednesday, June 10th. Occidental Petroleum’s dividend payout ratio is 26.20%.

Wall Street Analyst Weigh In

OXY has been the subject of several analyst reports. Wolfe Research upped their target price on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Citigroup decreased their target price on shares of Occidental Petroleum from $67.00 to $62.00 and set a “neutral” rating for the company in a research note on Friday, April 17th. Roth Mkm upped their target price on shares of Occidental Petroleum from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Barclays upped their target price on shares of Occidental Petroleum from $55.00 to $59.00 and gave the company an “equal weight” rating in a research note on Monday, March 16th. Finally, Bank of America upped their target price on shares of Occidental Petroleum from $44.00 to $45.00 in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, sixteen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.91.

About Occidental Petroleum

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.