Commerzbank Aktiengesellschaft FI increased its stake in Occidental Petroleum Co. (NYSE:OXY) by 137.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,162 shares of the oil and gas producer’s stock after purchasing an additional 142,537 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Occidental Petroleum were worth $10,947,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in Occidental Petroleum by 238.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,150,909 shares of the oil and gas producer’s stock valued at $57,868,000 after buying an additional 810,550 shares in the last quarter. Covenant Multifamily Offices LLC purchased a new stake in shares of Occidental Petroleum during the second quarter valued at approximately $1,667,000. Alexandria Capital LLC raised its stake in shares of Occidental Petroleum by 7.5% during the second quarter. Alexandria Capital LLC now owns 43,823 shares of the oil and gas producer’s stock valued at $2,203,000 after purchasing an additional 3,071 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Occidental Petroleum in the second quarter worth $21,620,000. Finally, ACG Wealth increased its stake in shares of Occidental Petroleum by 20.9% in the second quarter. ACG Wealth now owns 4,733 shares of the oil and gas producer’s stock worth $238,000 after buying an additional 817 shares during the last quarter. Institutional investors and hedge funds own 85.41% of the company’s stock.
NYSE OXY traded up $1.07 on Friday, hitting $40.10. 13,536,442 shares of the company were exchanged, compared to its average volume of 8,366,604. The firm has a market capitalization of $37.44 billion, a P/E ratio of 8.00, a price-to-earnings-growth ratio of 3.47 and a beta of 0.85. Occidental Petroleum Co. has a twelve month low of $38.30 and a twelve month high of $74.29. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.33 and a quick ratio of 1.00. The company’s 50 day moving average price is $42.48 and its 200-day moving average price is $48.31.
Occidental Petroleum (NYSE:OXY) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.30). The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.59 billion. Occidental Petroleum had a net margin of 6.34% and a return on equity of 9.98%. Occidental Petroleum’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. As a group, equities analysts expect that Occidental Petroleum Co. will post 2.32 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a $0.79 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.16 annualized dividend and a dividend yield of 7.88%. Occidental Petroleum’s payout ratio is 63.07%.
In related news, CFO Cedric W. Burgher bought 2,500 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $43.27 per share, with a total value of $108,175.00. Following the completion of the transaction, the chief financial officer now directly owns 79,342 shares of the company’s stock, valued at $3,433,128.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William R. Klesse acquired 5,000 shares of Occidental Petroleum stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $44.96 per share, with a total value of $224,800.00. Following the completion of the transaction, the director now directly owns 96,203 shares of the company’s stock, valued at approximately $4,325,286.88. The disclosure for this purchase can be found here. In the last three months, insiders purchased 23,500 shares of company stock valued at $1,039,775. 0.15% of the stock is currently owned by company insiders.
A number of analysts recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Occidental Petroleum in a research note on Friday, August 23rd. They issued a “hold” rating and a $47.00 price target for the company. ValuEngine upgraded shares of Occidental Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America set a $80.00 target price on shares of Occidental Petroleum and gave the company a “buy” rating in a research note on Wednesday, September 18th. Goldman Sachs Group began coverage on shares of Occidental Petroleum in a research note on Tuesday, August 27th. They set a “neutral” rating and a $52.50 target price for the company. Finally, Morgan Stanley reduced their price target on shares of Occidental Petroleum from $55.00 to $51.00 and set an “equal weight” rating for the company in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, three 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 an average price target of $60.23.
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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