Occidental Petroleum Corp. (OXY) Stake Raised by Adams Asset Advisors LLC
Adams Asset Advisors LLC raised its stake in Occidental Petroleum Corp. (NYSE:OXY) by 41.3% during the third quarter, Holdings Channel reports. The firm owned 5,854,845 shares of the company’s stock after buying an additional 1,711,198 shares during the period. Occidental Petroleum Corp. accounts for 59.3% of Adams Asset Advisors LLC’s investment portfolio, making the stock its largest position. Adams Asset Advisors LLC’s holdings in Occidental Petroleum Corp. were worth $426,935,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. Capital International Investors raised its position in Occidental Petroleum Corp. by 193.7% in the second quarter. Capital International Investors now owns 6,011,047 shares of the company’s stock worth $454,195,000 after buying an additional 3,964,244 shares during the period. Davis Selected Advisers raised its position in Occidental Petroleum Corp. by 45.2% in the second quarter. Davis Selected Advisers now owns 8,402,549 shares of the company’s stock worth $634,897,000 after buying an additional 2,616,481 shares during the period. BlackRock Advisors LLC raised its position in Occidental Petroleum Corp. by 42.3% in the second quarter. BlackRock Advisors LLC now owns 7,569,695 shares of the company’s stock worth $571,966,000 after buying an additional 2,250,546 shares during the period. Emerald Acquisition Ltd. bought a new position in Occidental Petroleum Corp. during the second quarter worth $147,818,000. Finally, Cohen & Steers Inc. raised its position in Occidental Petroleum Corp. by 77,575.8% in the second quarter. Cohen & Steers Inc. now owns 1,708,867 shares of the company’s stock worth $222,836,000 after buying an additional 1,706,667 shares during the period. Institutional investors and hedge funds own 80.47% of the company’s stock.
Shares of Occidental Petroleum Corp. (NYSE:OXY) opened at 71.36 on Thursday. The stock has a 50 day moving average price of $70.58 and a 200 day moving average price of $73.88. The company’s market capitalization is $54.53 billion. Occidental Petroleum Corp. has a one year low of $58.24 and a one year high of $78.48.
Occidental Petroleum Corp. (NYSE:OXY) last announced its quarterly earnings results on Tuesday, November 1st. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by $0.04. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.69 billion. Occidental Petroleum Corp. had a negative return on equity of 3.43% and a negative net margin of 52.62%. Occidental Petroleum Corp.’s revenue for the quarter was down 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. On average, equities research analysts predict that Occidental Petroleum Corp. will post ($0.86) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 9th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Wednesday, December 7th. Occidental Petroleum Corp.’s dividend payout ratio is currently -42.34%.
A number of research analysts recently weighed in on OXY shares. Mizuho started coverage on Occidental Petroleum Corp. in a research report on Wednesday, October 5th. They set a “buy” rating and a $83.00 price objective for the company. reissued a “buy” rating on shares of Occidental Petroleum Corp. in a report on Tuesday, August 16th. Jefferies Group reissued a “hold” rating on shares of Occidental Petroleum Corp. in a report on Thursday, September 8th. Deutsche Bank AG lowered Occidental Petroleum Corp. from a “buy” rating to a “hold” rating and set a $78.59 target price for the company. in a report on Friday, August 5th. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $72.00 target price on shares of Occidental Petroleum Corp. in a report on Monday, September 12th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $75.74.
In other Occidental Petroleum Corp. news, Director Stephen I. Chazen sold 2,000 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $69.12, for a total transaction of $138,240.00. Following the sale, the director now directly owns 1,581,619 shares of the company’s stock, valued at approximately $109,321,505.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen I. Chazen sold 9,000 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $73.05, for a total value of $657,450.00. Following the sale, the director now directly owns 1,664,119 shares in the company, valued at $121,563,892.95. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
Occidental Petroleum Corp. Company Profile
Occidental Petroleum Corporation 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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